People in the second group have a much higher success rate.I think spending days or weeks studying what entity to use is something like that,,,what will make you money is to get out and learn real estate, and start putting in offers on your first investment,,you need to be held back some, so you don't make a mistake, but you need to be ready to go start working on deals...you make money investing in real estate by putting together good deals,,,,,,you have to go 'get your feet wet",,,and thats how to succeed (again, with someone keeping you from making too big a mistake)Don't get paralized you will make a mistake,,we all make mistakes

I'd like a little advice on how to structure the second (long term) partnership and what everyone thinks of the plan, in general.

I second @Braden Smith You will find NOREIA to be most beneficial.

Originally posted by @Steven Stokes: So I'm going to need to rant for a second.

It's so easy to second guess yourself and having a pro tell me it's a good deal is very uplifting!

Second, realtors are a possessive lot that viciously guard their real estate market against "non-licensed professionals."

I haven't heard of this before, but I recommend fulfilling all your obligations.FHA are explicitly NOT for investors, and I'm not sure if you could have a second, non-family member on title - especially with a split interest.

Joe you are like my second hero..... tks

You'd be surprised at how many folks have cash on the sidelines that they would rather invest in hard assets with someone experienced like yourself vs. investing in the stock market with people they have never met.I could go on for hours - but as you can see by the responses from other syndicators and promoters on this post, we do not regret doing the heavy lifting to get this part of our business off the ground.Deciding to syndicate is the second best decision I have made in my 20 year career in Real Estate, 2nd only to the decision to sell all my houses and apartments to focus all my efforts on buying only Self Storage Facilities.Keep us posted on your progress...Scott Meyers

The lender MUST approve the land contract or the accellaration clause kicks in.Second: the lender can transfer the mortage to the buyer (assume the mortage), then the seller can take a second note for any balance due the seller (if any) .Bottom line is , if the property is not free and clear at the time of a land contract, red flags everywhere.The State that I live in treats a land contract as if it is a mortgage.