All income and expenses should be split between the investors according to their ownership percentages.As with all self directed investments, there are numerous rules to be aware of and to adhere to.

I have done a good deal of research on this as the US Postal Service in my area is very unreliable, and I've had numerous checks get lost in the mail.

I have put together numerous deals as an agent buying and selling with this and the FARBAR contract in FL.  

Its very difficult to enforce that on people you know for numerous reasons.

Visit their homes and make numerous written offers3.

So far, I have allowed cats and haven't had an issue, and we are not allowing dogs (except service animals) for numerous reasons.  

The numbers are as follows:Purchase Price: 40,000 (The flip house and the next door property )Rehab Budget: 70,000ARV: 159,900 (List Price)Estimated rehab: 4-6 WeeksEstimated net profit: 40,000So when we started the process, we had numerous contractors come through and put in bids.

He has done numerous jobs and always does great work, often makes the previous work look better.  

Many jobs, nurse assistant, hairdressing, dental assisting, and numerous others can be learned in a year or two in a full time school.

My question is thus: I have numerous contacts with local banks, never discussed REO with them.