I've noticed that a lot of investors keep their day jobs after they seem to be very successful. I've met people who have been flipping houses for over ten years and still have a day job. I'm too polite to ask the...

For example, if you buy a condo in Trump International Sonesta, it can be managed by Trump management; but you also have a choice to choose other PMs.

That means getting a mortgage originator to process the loan, draft terms and approve it, possibly close it and having the deal under the hand of an attorney.You may need to sweeten the deal with your buyer, pay costs, lower price, but they need to cooperate.If you can think of some song a dance to get them to leave happy, cash for keys and kill the deal, that would be a great way out for you.

It's a bit complicated how it works so for more check with a lawyer.In short, you have few options she has many and in general if you choose to do any investing now do it with the mindset it is all half hers, maybe more depending on how good her lawyer is.Court is not about who is right or wrong, it's about who can argue there right better.

There's a starter article on BP http://www.biggerpockets.com/renewsblog/2009/9/23/how-to-choose-real-estate-partners-and-the-criteria-to-usewhich focuses more on whether the partner is professional.

I know yo know the song.. :)Happy Thanksgiving to all my American friends..

These are some industry "standards" you can go by if you choose to get involved.

@Kerisha Johnson welcome to the community and congrats on choosing to get going in real estate and participate in the conversation.

Their financial position has since changed and they are starting to rob Peter to pay Paul on payments.. aka every month getting further behind.The house Appraised at 172,000 they owe 145,000 only a 7 year old house and when you run the numbers if they ask 172,000 probably settle with 165,000 (96% of asking price) and then figure a realtors commission and closing fees and last year's property taxes (10%) $16,500 that brings it down to 148,500 roughly .At the end of the day they would walk away with $3,500 if they were able to find someone soon enough.My proposal to them is to be done with it right away so they can get out from having a payment they no longer can afford doing a sub to financing offer and give them 147,000 ( they get 2g in cash for moving or whatever they choose) I will turn around and finish the basement off .

I start my licensing classes this weekend and have already started thinking about where I'll hang my license.I'm getting my license so I can access the MLS at 3:30 am if I so choose.