hey taylor, of course I have to disclose I'm not an attorney, and you should consult with one for your unique situation, but I always have consulted with good ones and whenever we acquire a piece of property - either individually or in a group joint venture, you always want to shield yourself and your personal assets from any litigous situation by purchasing any property in an llc.Its not to say that you can't buy in your name personally but when it comes to business deals, always cover yourself.

Our plan is to setup a joint ownership LLC to acquire the property.

I did some research on ways to legally structure a partnership and found that it can be set up as a partnership, joint venture, or LLC.

@garydashner. very true. i've found that when its a deal, the first person i call will buy it. they know their numbers and they trust my repair estimates, even if i'm off by a few thousand, if i'm within their price range, they'll stick take it. those are the pros and people i'll joint venture with on some rehabs. contrary to popular belief i don't have a big buyer's list. i've got around 8 active rehabbers who are constantly buying. however i am going to expand my list as i've heard of wholesalers getting private lenders off their buyers list.

I hate this stuff because I like to be nice and friendly, but some people only understand mean.Jonathan I'm sorry I was more of a knee jerk reaction, emphasis on jerk.

Then joint venture with a long term investor money partner.

Depending on projetc -- and exit strategy-- there is a way to raise fudns -called " Private Placement Offering" --which will cost $10K to $15k for attorney fee to write a Memorandum.Then contact Investors-- many rich people have lots of cash available -- and ready to invest if right project --Joint Venture or Partnership is best for specific project with good exit strategy.

The appropriate way to work through an appraisal contingency would be for the buyer AND seller to jointly order an appraisal, where the appraiser could explain up front the market dynamics and variables in the market.

HOBO had a better selection, had features that were an upgrade on the base cabinets from Cabinets to Go (dovetail joints on the drawers) and were a good $700 less not counting the additional 15% off (I had the good fortune to buy while a sale was going on.)

@Jules Semanchuk I like the durability of @Douglas Larson suggestion.I am going to be tearing out the laminate (Home Depot pedigree) of a new purchase because of the wear & buckled end joints after 3 years (older tenant).