I realize I can modify our operating agreement to reflect this transaction and his obligation, but it doesn't' sit the same way with me as if he were signing on the dotted line at closing.Please share your thoughts and if I am overthinking this,but if something were to go south or future disagreements I feel like I would be left holding the bag in this scenario.

Electricty, Water, Sewer, garbage, and insurance (or any others that would be operating expenses) are the areas in which I was expecting to get some assistance with.Thanks for the help

In general the site is filled with pretty independent folks that dislike others controlling their capital formation process and thus my prediction is that technology will largely allow active operator/sponsors to bypass the intermediaries in time.  

Any company operating without one will fail in no time. 

.- The seller can sell the house to someone else right from underneath you.  

I've owned and operated a number of businesses over the last 20 years.

Use your Net operating Income to pay back the Private loan.  

It  may be invalid due to age, it may have been paid and never released, or may be gone by operation of law via the tax sale.

If so and if you want to take a salary, it will need to fall under the real-estate operating company requirement in order to use your retirement funds without paying taxes. 

I understand that the first couple of years would be tough but once I start to add in the apartments that get renovated and then store fronts my monthly income jumps to $8,875.So when I do the math with this number $8,875 monthly income with a 5% vacancy rate and 30% operation expenses + my mortgage ($1,400) for the construction loan my cash flow total is $4,502 a month which I split with my investor.