At 120k arv tenant quality should be reasonable with proper due diligence.  5% vacancy is obtainable.    

A good partner is good at and likes to do things you don't like to do and/or are not good at.  2 people with the same skill set (or lack of) that are just twice as broke as required to take a deal down properly?

A well-rounded property owner should have minimal issue managing their own assets IF the systems are set up properly.

And I'm sorry if this isn't posted in the proper place, I'm new here and still trying to figure everything out.Thanks so much for the help!

I'm not even sure what needs to be repaired here, but I would start with making sure all connections are fitted properly and not leaking.

. - I GET 70% of the company and profitsWhat the builder puts in/gets:- 10k cash, mostly for good faith- The LLC/Partnership will rent his construction company for the duration of the project.

Even that tub surround you wanted installed, often the stud placement isn’t adequate for a proper install and  requires $10 in materials that’s may result in several hours of work to get a quality install.More to the point, if the guy does quality work for you and you have no complaints about the end result, pay the man.  

I have not resorted to a letter, always get the cosigner's phone contact and do a CC and BG check on them or you are not screening properly.

.- Do you recommend that the private debt interest will depend on the time duration that the money was used (as in a loan, and then the interest will actually be yearly interest)  or simply a rate of interest from the invested money independently from the time?

On the other hand, I have that fear in the back of my mind that something will go wrong and I won't have the experience to properly handle it.