Always Did our own work" and had Rental units, until the Crash.......Question is, we had some people which stepped up to join with us if interested to form a LLC Partnership, We decided to do it, they buy the Property, and are Silent Partners hands off everything, we Handle everything day to day, do the work and Split the profits, 50/50 which we agreed, we just finished our 2nd house and sold it, closed , and ready to move forward to the next, however, in the middle of the 2nd house, they brought us a paper, kind of an operating statement of responsibilities, the 1st house we split about 40,000 and we were told on this second one, that they have to collect interest on them loaning the LLC. money to purchase the property, we thought that this was just a formality,and they would then have to put money back in, "on paper" which would be for the purpose of the  IRS, but we were told, that's the way the Book keeper said it had to be structured, so the project took longer than expected, to finish and sell...........but they have been instructed to treat these houses as inventory, new for us, as we never had partners before, short story long,We only ended up clearing a 13,500 profit, but turns out the interest was really going to go to them, along with a 50/50 split, so almost 10,000 dollars in interest, plus we split the remaining 3500, so we didn't do that well. obviously, is it ever customary for private money investor, to get a chunk of interest and 50% of the profits, I was not aware of it actually going to them, as real interest, since they receive 50% of profits as well, I feel like we must be the biggest fools, and duped, has anyone ever tried to pull this off?

Because no one is going to help you, you must help yourself - we are all that middle point around which the world revolves - and it's up to you to own it.So when our friend Lydia thought, 'come on dude, put some of your time and thought into it,' it's because, like me, she's probably seen a lot of people approach this biz and we now see at a glance whether they have the skill set, disposition, and self-starter attitude required for it.For example, I used to tell people, "You should consider getting into real estate," but when they text me later that evening asking me what website they look into licensing courses on, I realize I made a mistake, because I'm not going to Google That For You.But take heart, because these are all learned skills, you just need to focus on learning the right ones. 

I took 2 sips and I don't remember anything after that, until waking up naked in his bed in the middle of the night.

The middle of the night my toilet is plugged I have never received.  

I have done my research and decided to invest in Jacksonville FL.My plan is to start out by purchasing SFHs, in a B/C class (i.e. lower middle to middle class areas) with a budget of 100k (all in) and continue with that tactic after completing the first deal.Can anyone provide some tips about neighborhoods where my budget will be sufficient?

I guess if they bail early it wouldn't be the worst thing, since their lease is up toward the middle-end of August so it would be better to be looking for new tenants earlier in the summer before school starts. 

It would be outrageous if you started to build a 10 story building in the middle of a single family residential neighborhood even if you had the land. 

I will bite...if you can go conventional loan, the max dti will cap at 50%...off 140k combined annual income, roughly 2692.30/week or 10,769.23/month...using 10,769.23 monthly, I would guess the sum of all your debts cannot exceed 5300/monthly (and some change)...if you already are at 3100, I would guess you have 1900 available monthly for debt service on your house...the lender will use the lower borrow's middle score.  

They always come back in the middle of the job and say "we ran into a problem and it's only $7,000 more to fix".

I just recently listed one unit of a duplex in the middle of February on Facebook and had over 168 hits in a >10 days.