I think it was a pretty perfect 50/50 split for people who even wanted a tub in their master.

What kind of split should I offer them?

At 12, Engelo Rumora rolled into the sunny Lima to have lunch - sushi and sake baby...FOR LUCH!

And should the equity in the property be normally split 50/50 in this type of situation?

With an experienced investor, you could a) cover your knowledge gaps and deficiencies; b) potentially have that investor bring the money; c) split 50/50 profits.

There are VERY few affordable homes, all the large builders in the area have been building homes in the $140k-$180k range, while many of the new jobs comming into the area pay a rate that doesn't work well with these ranges.Anyway, we got to talking, and it seems he enjoys building smaller, more affordable homes, rather than the 3k-4k square feet homes he's been doing.So , the best thing to do would be find lots in an area and build....But there aren't any, in fact in my town there are VERY few lots to build on, and most are splits from already existing, double lots.So, after talking to him ,it seems the best way to do things would be find an area that's developable and do it.So, i'm curious to know what pitfalls thoes of you who have done this (Succuessfully) and try to learn.

Why don't you put it under contract, and then bring in a realtor to sell the thing, with you two splitting the profit 60/40.

I did split this off the original thread.

Bragg where I'm stationed and with deployments sometimes you don't have time to get out of your house or sell it or what not, so I'm going to try to pull some leads from that.A huge benefit of that is I can get them out of having to pay a mortgage on a house that is just sitting for like a year, or possibly pull up some short sales if they run into problems like marital ( happens every day here) where they just want the house gone, or fall behind b/c their wife or girlfriend split town while they are here.let me know what you guys think

I've heard that some people form multiple LLCs splitting up their rental units.My question is -- where should we form our LLC?