My partner who is very conservative started a new home construction in Arizona through a builder last year, by the time it was done, he flipped it for over a 46k profit.

Beyond that the trustee, to provide even more protection should be a corporation (preferably by me a 3rd party non-profit corporation).

[/list:u][list]If we went to an attorney to create the LLC, would we then spell out who is responsible for what and how we would split the potential profits?

As a volunteer for many different non-profit organizations it is important for me to give back.

Ralph will be sharing secrets on how to make huge profits in the current Michigan market, along with his usual repertoire of wisdom he has attained through his illustrious real estate career.

I've looked into investing and such; just doesn't seem like the interest rates and profits are enough for me with just "investing" .. bonds and such.

Also we were looking into the theory of starting a C-Corp in addition to the LLC, possibly in Nevada or Delaware and assuming our real estate investments turn a profit we could divert some of this income towards the C-Corp as a property management fee.Any theories or experiences good or bad relating to some of this.

Everyone loses except you, because you kept money from the front end of the deal.I'm not saying that your deals will go bad, just that in my experience it can't work when the investor pays above market value for a house and tries to rent it out at a profit.

Together we''ll make nice homes and profits.

Next thing you know your reinvesting those winfall profits into small apartment buildings which you're buying for little to nothing down.