Many folks are looking at these assets now-a-days for the obvious opportunities but do not have that much experience in evaluation or workout.

It may work out well.

Make sure they work out real well and the cashflow is where you want it to be.

Nobody would have a problem with this.Where I have a problem, is some poser deciding he wants to try wholesaling because the multi-level marketing thing last month didn’t work out and he lost all his money playing online poker the month before.

It looks like it may work out for the best.

If so and you have the money to pay then just work out a draw during this phase for enough money that works for him & then deduct it from the profits when they are divided.

Just make sure with all that borrowing that the numbers still work out that you will be making positive cash flow!

And in the end, if it doesn't work out, you can always just give the property back to the original seller.

Assuming that the roof is fairly standard with no intense angles.

Thank you Mike and Ellis, your input is very much appreciated.We have decided to go with an LLC for now and will work out a more detailed structure when things begin to take off.