Both Did ok, but not real well.Decided to get back in the game this summer and look for some new friends!.

I play golf at Friendswood when I get the chance.

and I have been "out of the game" for a little while.

I realize market conditions play a hand to some extent over personal preference.Thanks!

Intent does play a role.

Your credit rating doesn't come into play at all in this scenario and you don't need a secondary loan from the bank.With any business dealing, especially one with family, you should consider and discuss with the parties involved what happens if things don't work out as well as projected.

If 40% is what it takes to get the capital, that's fine, but in my opinion that's pretty rich to the money source when you have 50% skin in the game.

@Purnell Cook it's not a matter of recommending it or not, if you want MLS access in the BAREIS coverage region you don't have a choice, it's the only game in town. 

Having been an out-of-state investor since January 2004 I can tell you that you'd be far ahead of the game in other markets where the economy is strong and the numbers pencil out.As Brandon Turner has mentioned, there are some turnkey providers here on BiggerPockets.

If you're only playing with $18,000 and you're all in on this deal, take the check and put the capital back to work on another deal.