To build up a fund to hire an attorney to find a legal way to oust owners who rent out their units?

This is all very situational based on your annual capital gains and W2 income.

Im looking to gain some experience on the job for little or no compensation.. knowledge is invaluable.

May I ask why you are not going to an Attorney to draft the partnership agreement and get legal advice?

Our goal is to gain the experience from the first couple of investments and then to grow/multiply the portfolio.

3) if there’s decent equity after his and others’ sweat and material, and he wants to take on the challenge, he’s back at step 1; seeking real legal counsel on his standing with the lender(s). 

There is no legal way around that.

@Zachary Sexton; @Ali Boone; @Russell Brazil; @Jordan Moorhead; @Matt Shields I don't necessarily agree with the idea that there is a specific "advice" from BP and that it is risky... like others have posted before, everyone has their level of comfort with risk and that's what they should go with.But I do have an issue with BP Podcasts - both the original one and the new Money one - are we ever going to see a guest that doesn't have their own website, their own blog, is trying to sell/promote something for his/her own gain and that hasn't in fact already interviewed the BP people in their own podcast?

@Daniel Caraway You need to find out what the legal use is shown at the city's Building Department.

If you ask for a change be prepared to reimburse the bank the legal costs to research your question.