Filipe / You need to more fully understand the basics of commercial investing.

He will basically just put money into my account and I will purchase property, do the rehab on it and then when it is sold we will split the profits 50/50.However since everything will be in my name it will look like I received all the profits at the end of the year when taxes are due.I know we can set up a partnership or create an LLC where we are both the owners....but he does not want to do any "extra" work.

Basically if you end up FT at a REI, his take on it was you can have phenomenal advantages by being able to access healthcare for your business as a group (you and spouse qualify as a group) and deduct the expense.

So my ques is should I get a temporary power of attorney, Also realtor suggest that since I have done everything right on my end, its on them and I can close in 6 to 7 mths when I return is this poasable I would be Ok with it, on the other hand I slightly wooried about property basically being abbondoned for the next 7 mths suggestions please

Studying for your license also gives you a good basic understanding of terminology, ethics, real estate law, title, etc.

basically the current zoning ordinance was established after Chicago was built.

I've never seen that 50-50 concept before.

That doesn’t mean that you need to be an expert in all of these areas, it will just help you immensely if you have a basic understanding.

There are other expenses as well, but that is the basic.

NOT USING AN ATTORNEY NOT WELL VERSED IN FORECLOSURE= I have seen hundreds of closings where the buyer was utilizing an attorney or settlement agent who did not understand the concept of Insurable Title, or that Time is of the essence when it comes to deadlines.