DIY and budget lawyer solutions usually result in bare-bones certificate of formations, which may give you less (or no) protection as compared to a properly drafted certificate of formation.

When his mother died he did nothing with the house and barely keeps it maintained.

it's a good deal for a rental. not that good for a flip. if the renters are in there already, do the bare minimum.

Regarding working with an outside agent, you must get permission with your existing agent to contact other agents so she is in the loop and inform the other agents of your proposal to participate.

I'll upvote anyone who answers the questions as I think this has been a huge help for me and everyone else who has participated.

Just write up an equity participation note saying he is entitled to whatever percentage of the profits you agree upon and secure it with a mortgage.I personally require money partners to put up all the money if I'm doing all the work and finding the deal then a 50/50 split upon resale.

Just like most REIAs , with the notable exception that our once a month REIA meetings are free.We also have another level of membership that is designed for the person who's a little more serous, and includes being a part of a group of investors who meet 2-3 times a week in their own dedicated facility, with local coaches, local support and a chance to participate on one of seven (7) teams, lead by someone who is actually a full-time investor.  

I did a guru program years ago, lost money and learned barely anything.

If you are not able to close, immediately drop the price just barely north of your breakeven and count your blessings your lesson wasn't more costly.

Structuring the LLC the correct way and labeling yourself as strictly a passive partner that really contributes no actual management or active participation on the business would allow you to avoid self-employment tax.