Again, some of this isn't about trying to define the "path of progress" as much as it is to scratch off the "path of implosion" areas. 

. - Quite honestly, on our first 2 rehabs we did a better job of hitting our rehab numbers and we were above the 1% rule, which I do use as a guideline for my target area (which currently is defined as properties within 15 minutes driving distance of my personal residence). 

You may be able to insert a prepayment clause with a penalty or define a set time before the note can be refinanced away in the contract.  

I'm happy to take partners into some of my larger deals, but the partner will contribute capital and maybe have a very clearly defined role (that can be replaced if the partner flakes out).

Ask five real estate professionals to define "square feet of gross living area," and you will get eight different opinions. 

Define "success".I mailed 2500 postcards last Friday...got 10 calls so far(almost 1/2 percent).3 were non-prospects...7 are absentee homeowners with a home in our target area.Spoke with 6 of them so far...one got pissed at our offer...the other 5 get it and were cordial.Meeting with one next week- is motivated to do something.A couple of others may be motivated down the road.Bottom line?

A few comments:I probably should have defined "crash" better in the beginning.

Also joint ownership is a legal mess, having a partnership allows you to define who is the general partner rather than having all beneficiaries having their say.

The definition of those terms are trying to place buyers in areas based on discrimination against the 7 protected classes as defined by Federal Fair Housing laws.If an agent only takes on big money listings, that is their prerogative if that is way they chose to do their business.

How would you define good?