The LLC will then sell the home and split the profit (if any) with the previous homeowner.

I am relatively fresh out of college where I am used to splitting a 400sq/ft space with another person, so this will be an upgrade for me :) Buy, rehab, rent, resideThe plan would be to live in the garage conversion and rent the rest of the house.

How it would work is, assuming you’re buying a 5 unit property and wanting to live in 1 unit, you would essentially have to “split” the property, with 4 units being investment and 1 unit being non-investment.

All I want in the end is the 50/50 profit split when the house is sold. 

If the property is worth 210K and there is 50K of equity (split in half) then sell your stepson the property for 185000. 

Maybe this means that if there is one "boiler" or one water meter, then only one bill will come and it will be in the owner's name in which case you'll need to decide up front if the cost is included in the rent or how the tenant is splitting it w/you.Lawn care and snow removal are negotiable in my area. 

In the end, the deal split is a matter of negotiation.

I plan on whole sale in a different state, I will partner with others that will help me and split the deal 50/50 it is better that way in another state to get you going.

My question is on the equity split.

Just installed a wooden fence in the backyard to split the yard for each unit.