Acceptable Sources of Reserves Checking or savings accounts Investments in stocks, bonds, mutual funds, certificates of deposit, money markets funds and trust accountsThe amount vested in retirement savings accounts Cash value of a vested life insurance policy Certain assets must be “discounted” when used for reserves.

Typing things out is definitely strengthening my vision. 

By the way.....never ask financial advisor who only knows how to sell stocks and bonds if real estate is a good investment. 

We still sign a contract, he would provide a receipt for all the disbursements, and he says his license, bond, and insurance will still take effect for the project.  

You can take the courses and get bonded, insured, licensed and buy a calculator, but guess what....to do business as an independent broker, you'll need to show the wholesalers you want to broker with that you have the knowledge and experience.

The agreement should address the initial participation of each member (i.e who contributes what money and which skills); the ongoing responsibilities of each member;  procedures for exit of any of the members (both by choice and with a push) - e.g. to whom may they sell their interest, who has first right to purchase the interest, etc.You may likely think such a formal agreement an unnecessary expense at this point and an activity which may put tension on the bonds of friendship.  

Investors should maintain a diversified portfolio that also includes stocks, bonds and cash.

If he is not on title then you would need a Developers license along with a bond and insurance..

I tend to play a little more on the conservative side when it comes to investing (stocks/bonds).

That said, what is better than bonding over a tile floor or with a paint brush?