Plumbing, septic systems increase the sq.ft. cost.It's a great concept.

Collin, You're going to want to go through the property and make sure all the mechanical systems, foundation, roof, etc. are all in good working order.

Oh, I forgot Dropbox which gives me access to my entire real estate filing system all the time!

But I know a guy who was running a $100MM fund prior to the bust - let me tell you , they went through his fund and every aspect with a fine tooth comb - and this is not just because of lost money, they were trying to take the fund away from him and control it.There are so many ways you can get into trouble.

He had his VA do this very thing for a person in the audience and by the end of the talk (pitch to sell his very expensive VA services and automated systems) the VA had made a post and created a blog on his own website for him within the hour, the entire audience clapped and cheered as if it was so amazing.I had a good laugh at least and drank beers with some good investor fiends afterwards, so at least it was not a total waste of my time.

IMO you are ultimately better off having more control/liquidity with the money.

The court acknowledged that the plaintiff’s evidence portended some indicia of control by the member over the LLC but pointed to a dearth of evidence with respect to most of the factors listed above.Westmoreland Associates, LLC v.

I did not use an iPad, just emailed them the document through the EchoSign system, and got back a signed pdf a few minutes later.

There is a hierarchy inside the note between the investors who has control and how loss will be shared, etc.

Here's was my Pre-Purchase Checklist when I first started:Upon Contract AcceptanceEnsure Access to Property: * Make Copy of Property Key(s) * Purchase New Lockbox * Place Key(s) in Lockbox and Install at Property (hidden)If Certified Funds are Required for EM: * Get Certified Funds for EM from Bank * Submit Certified Funds to AgentIf Financing the Purchase: * Send Contract to Loan Officer * Provide Loan Officer Property Info * Connect Loan Officer with RE Agent Info * Have Loan Officer Schedule Appraisal * Make sure Loan Officer Knows Anticipated Closing DateDue DiligenceInspections: * Turn On Utilities for Inspection (water, gas, electric) * Schedule Termite Inspection * Schedule Property Inspection * Attend Inspection and Take Notes for “Scope of Work” * Get Final Inspection Report and Review for “Scope of Work” * Get Termite Letter/Pest Inspection ReportContractor Prep: * Create Scope of Work * Create Materials List * Determine Which Contractors Are Needed: * GC * HVAC * Roofer * Electrician * Plumber * Pest/Termite Control * Painter * Landscaper * Carpenter * Schedule GC Walk-Through(s) * Get Contractor QuotesPurchase Decision: * Perform Final Financial Analysis Using Estimates/Quotes * Perform Both Flip and Rental Analysis * Make Go/No-Go Decision on PurchaseUpon Contingency FinalizationFinal Purchase Prep: * Get Closing Date from Lender/Agent * Arrange Landlord Insurance Policy * If Financing, Connect Insurance Agent with Loan Officer * Follow-Up on Appraisal with Lender * Choose a General Contractor * Choose Sub-Contractors (if no GC) * Determine Exit Strategy * Create Rehab Schedule (if no GC) * Create Final BudgetPrior to ClosingFinal Loan and Closing Prep: * Obtain and Review HUD-1 * Obtain and Review GFE (if financing) * Ensure Loan is Ready for Closing (if financing) * Get Certified Funds for Closing * Determine How to Hold Title * Get Partnership Agreement Documents Signed (if partnering)Upon ClosingDay of Closing: * Get Keys * Change Property Tax Records to Home Address * Get GC and Sub Contracts/Docs Signed * Arrange GC and Sub Start Dates