You are never allowed to be involved in the management of the property.

We are looking to structure things so that final decisions are only acted upon when both parties are in agreement and clear on the path forward.

The take action part is the toughest, but it is also the most rewarding!

Owning that property helped me better appreciate the advantages of real estate investment and made me want to learn more and get more deeply involved.

There are time and costs involved with becoming and staying licensed as a realtor.

from my understanding of contract law, any agreement lasting a year or more would need to be I writing and accepted by both parties. since you have not signed the contract, I do not think they can hold you to it. whether you get a lawyer or not depends on whether you think you can get him to leave without one. if he doesn't leave, you need to evict and then you need a lawyer anyway. personally, I would try without a lawyer first, and if he doesn't budge then get one

it would depend on your understanding of title and recording of Deeds, as well as drafting  the quit claim, I personally buy a lot of my portfolio at sheriff sales, and often will use my personal name until i decide what LLC im going to put it in,  I will then quit claim it to that LLC, in this case though there are no loans involved (buy on LOC then cash out after rehab) Im a broker and will draft my own quitclaim and go to the ROD office and record it. that being said, if you are asking this question on this forum I would recommend asking for guidance from a local title company, maybe pay them to do one for you, but ask them to teach you how its done. good luck  

I heard about Bigger Pockets from an ex-roommate who was involved in real estate when we were discussing ways to invest years ago.

I would be actively involved in these flips: finding the deals, analyzing the deals, writing up the offers, doing some work myself (I'm semi-handy), working with contractors, and eventually selling the properties.Naturally, I started the hunt for properties!

The nice part is that I need $27K down payment for the $135K property and $22.4K for the $112K property which I will use the line of credit to pay for.