What is the instrument that binds you,such as your operating agreement or partnership agreement or subscription documents say about redemption?

Second examine all documentation that is signed in WRITING by both of you regarding the loan.

This is not a strategy where you want to be creating your own trust documents or transfers.

The loan documents they fill out for the government guaranteed loans asks they the source of the money for the down payment.

If this is HUD, he is falsifying documents (that he has to sign at closing) and it is punishable by a fine of $250,000 and prison time of 2 years.Is that worth the money he's saving?

From what you have described here so far, I don't think you will have any problem putting together the needed documentation for either.You will also find, once you get into the commercial world, the 'down payment' becomes much less of an obstacle.

Haha after months away (I feel guilty as I read the emails and forums all the time but haven't contributed) I wanted to send a little update as to my status and progress.I have acquired a 4 family close to home (hometown where I grew up!)

Now, I have it as company policy and forced it to be automatic on the documents so the staff can't forget the rule in the future.

I just changed my email to the one given to me by a new company I invested in recently.

Hey @Laura Moore - Next time that happens, can you mark the time for me and then email us at support at biggerpockets with that information?