Like our new homes we are building NO one will survey them .. the lender though does whats called a foundation survey and we do whats called a Hub and tac  lender before we get vertical draws on the  construction loan wants to make sure the foundation is on the lot and in the right spot..

I'd have an attorney draw up the Joint Venture agreement and reuse it for each investor.

@Alex Folchi if you do go that route just protect yourself, have the lawyers draw up a post possession agreement with a heft escrow hold back, perhaps $10k that stays there until she moves out and the house is delivered to you in the same position at it was on closing date.

The lender requires a GC or sub-contractors licensed in the trades, the borrower cannot do the work themselves basically. 10% of the rehab budget is released at Closing to get a quick start, the rest released in Draws as rehab progresses. 6 months is time frame to complete.

The previous owner neglected the backyard and now I have a fresh drawing board!

The previous owner neglected the backyard and now I have a fresh drawing board!

I'd say you need to know your market and what will draw people to booking it. 

Not a lot of volume moving subsequently.   

The school districts tend to draw boundary lines that you might not see in a zip code search that will have strong impact on actual property values.

Selling properties with some type of owner financing allows you to get a higher price and will draw many more potential buyers than a straight cash sale.