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.

there are few other things but i will start with those, i rented my co-op for a while and it work out great :)i am in the bronx, we can talk sometime if you like.RegardsEva

for a newbie, planning to buy 4-6 rental apt building in the near future, actually looking, waiting to be sure the deal is good and will work out, Anyone have a opinion as to whether I should upgrade to pro or basic pro membership?

You'll get hung up on, laughed at, have doors shut in your face etc... but at the end of the day as long as you've researched thoroughly and know your numbers it will work out.

Side note:@Pete Nater how did your indy turnkey property work out?

With 2nds, many times we'll get a workout negotiated post FC sale, or we'll just rent it out, with us paying the 1st as a subject-to, or without paying the 1st and keeping the rent until the 1st forecloses, it's a business decision at that point.Best,Dave VH