He knows its hard for me and that Im going to have to work hard to sell to people that I will return there money with a profit and to invest in me.

Split profits or preferred rate of return?

I do believe you can make good money rehabbing old houses and selling them for profit.3.

Then we will purchase the house with our own mortgage and figure in an additional $5k for his profit into the selling price.

.@ $550 to 600 per month, looks like you go into a comfortable profit margin on this deal after 18 months.

Since I have much equity should I take my profit now by cashing out?

If it can be rented to cover and eventually be sold at a profit, all are happy.However, I was wondering what happens to the seller in the meantime?

I figure coffee and donuts is a small price to pay for a $15000+ profit.

As far as my strategy, I never touch my profits.

And for the last 2 years, we have stagnated the economy, allow oil companies to get record profits, while unemployment rose.We need people in Congress to work together, so that is going to be key for the next President to deal with.I would caution that a more "cooperative" government where the government is controlling everything is not necessarily what this country was founded upon.