Thanks @Steven Hamilton II It seems that we would then need a good insurance policy to go along with the partnership, since we wouldn't be getting the liability protection provided by an LLC.

'You need to set up entities to protect you from lawsuit liability' is the general advice.In my area, liability insurance cost $22 per year for 300k Somebody needs to explain me, what can happen, which is due to my negligence and cost more than 300k?

Many investors are looking to do a JV partnership with money partners, but you have to be extra careful to go with an investor and contractor that is really experienced and all the protective legal paperwork written up ahead of time.Good luck to you.

A LLC is basically a tool for asset protection.

You have a right to protect and preserve your property.If it's something that can wait, try to work with the tenant, consider it temporary, and plan for their lease termination.How you repair your mechanical systems is your business, not the tenant's.

This is what we provide:Every Buyers Protection Group Inspection includes:Weekend and Extended Hours, $1 Million in E&O Insurance, 12 Months of Extended Advice,90-Day Inspection Guarantee, General Liability Insurance and our Superior Service Guarantee

The regs are quite specific when it comes to collections and defaults.Read the updated reg letter at the Consumer Protection Finance Bureau.

Of course, to protect my interest in the property I would have to record a memorandum of option on the property.My questions: 1) Can lease options be a way to achieve similar results to a subject to in cases where sellers are motivated but are unwilling to risk giving up the deed?

If the owner abandons the property banks will sometime secure the property to protect their collateral.

Our laws protect the public.