Question: is that the return #'s after cost price + admin expenses (county fee, due diligence fees, legal fees etc.)?

Are you using a legal entity for your house hack?

Also as far as the legal part during the signing agreement, you can have contingencies for diligence and loan acceptance so if something comes up you have a way out.

Should we do some kind of contract or legal doc since it’s family?

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.The site has quite a few tools that can be helpful for new members.

They offered up all the local (I am out of state) legal, accounting and insurance contacts.What questions should I be asking?

You can find out permit information to get an idea if larger scale work has been done and permits pulled for those.

I have had the house inspected, and estimates done on all the work that needs to be completed, but there are some legal things to consider before I put any money into work being done on a house that I do not own.

I have a legal question. 

She's worried that the permitting process will be too challenging and so she's trying to evaluate should she: A.