Pay draws is the proper way to handle it so if your contractor does turn out to be bad, you cut them lose without losing all your cash.

Or at least enough to create a product or service that teaches it.

Purchases are being made on pure speculation - not proper cashflow calcs.

No affiliation here, I saw this product on DIY's I Want That show last night:http://marketplace.diynetwork.com/Product.aspx?

the use case for a mobile app is when visiting a home, or property, or shopping for home improvement products, mobile makes sense.

At least it's off my "to-do" list.I just had an offer accepted on a 3-note portfolio, and I have a seller literally begging me for an offer on another note.I had a very productive dinner with the SEVP/CCO of a local bank, which I am certain will lead to something good.Finally, I had 2 family members who have done deals with me in the past approach me with some more money they "found."

As the buyer, it is the only way I would do it.Keep asking questions and engage this community, it is the fast track to proper education.PS.

A properly formed and filed Limited Liability Corporation can provide protection.

J Scott has given you the proper way to analyze a deal like this.

The good news, proper evaluation of any income generating asset is pretty straight forward.