Hello everyone, Long story short...1.1 million dollar property, considered single family unit, two separate units, 1 garage 1st individual invested $437,000; average credit2nd individual invested $70,000; excellent creditTogether, they split the mortgage and other expenses (property tax, insurance, etc...) 50/50 How would you properly prepare a T.I.C. for this kind of scenario?

Does this seem like the proper approach?

Hey @Kevin HildebrandtYou will definitely want to have the proper contract drafted up prior to asking the tenant. 

Real estate is cheaper in 85367, Yuma Foothills, than in Yuma proper 85364.

Also, the IRS auditor loves to see organized and properly tallied lists.

I feel a lot more comfortable with the idea of what a HELOC can do if leveraged properly.

Any advice on how to set this up properly would be greatly appreciated!

You want each investment to provide a blessing to you and your family not become a burden, which can easily happen without a proper buffer.

Is there anyone who can point me in the right direction of the proper steps to take?

And thats of course disregarding the time spent in class and studying for the exam and putting the pressure on yourself to properly know the ins and outs of the contract since you will be representing yourself.