It's a joint venture, however some percent of a deal is better than 100% of no deal.

Tenant responsibilities, payment due dates and allowable methods, late charges, the "joint and several" clause, adding/removing someone from the Agreement, yard maintenance expectations (which are also spelled out in the Agreement), vehicle requirements, etc. etc.

These are all important questions to answer before you change careers.You can also look at opportunities for joint venturing with someone who has money but no time or experience to get a rehab done. 

We have never done a joint venture like this.  

You're going to get the bloody knees, the scratched elbows, the scars that say it really happened.

Here in NJ they can't turn off the heat in winter... so I would have informed them of that ;)I guess my service days have instilled in me the comfort, uniformity and equality that abiding by jointly agreed to set of rules provides.Also, as I said earlier, we all have vastly different markets, rentals and tenant classes.I live in a very litigious state...

Put the both on the lease so you have both responsible but remember they are jointly and severally responsible for the payment.

Henkel says he's seen his properties completely trashed, and makes a point of doing joint leases that make every roommate responsible for the unit.He estimates he has to take one out of every 10 groups of renters to small claims court for unpaid rent, and he sends damages to collections.

Right now I have property under contract or others that I am Joint venturing and I am looking to connect with all and any other cash buyers, wholesalers or whoever wants to make money and move property quickly.

Sometimes it's sales to high net worth individuals with need for transaction structures that go beyond simple promulgated forms, say tax motivated sale structures, or more complicated land joint venture structures.