I spent alot of time training her up and she was paid hourly while having flexibilty to do as many hours she want.I now need to take on someone who is passionate in property to run the in house property management company this can free up my time to focus on development.Does this arrangement seem like it will work out?

Would you have any suggestions as to how to work out one of these joint venture deals?

Right now we are on the verge of purchasing 2 separate two-unit properties, so I'll keep you posted how things work out.  

It is much harder to get them out if things don't work out.

. - this webinar was a sort of "trial run" for me to work out all the kinks... and BOY were there kinks!

It really is like getting married... unless you each have clearly defined responsibilities so that everything which needs to be done is covered by someone, and then on top of that have a structure to buy one or more of the partners out of the deal in case things don't work out between you all.One of my favorite sources of properties is feuding partners who are willing to sell below market just get away from the others in the deal, don't become one of them ;)Good hunting-

TheCoverage you cite the HOA as having sounds pretty routine- pretty hard to makethem feel  vulnerable enough to want to help.

If it is still in there, I bought an REO a few years ago when there wasn't as much competition, and used the inspection to leverage another 10k off the price, by producing contractor bids for various capital expense items that would now have to be disclosed to any future offers should mine not work out. 

I know there are some cities here in CT that have deceptively low asking prices, but there's usually a good reason for it.I don't mean to throw cold water on your plan, which might work out very well; it just depends on the area.

This is kind of what I was thinking (with regards to deductibles and HSAs).One other thing I am doing is making my wife and kids work out for three hours a day and eat organic kale to keep them out of the doctor's office.