They also bought out the laundry so they are not splitting the profits for that.

It is a single building split with units side by side.

I will guarantee you, if you are looking for money (private, hard money, conventional), if you want to loan money, if you want to buy any type of property, if you want to know about how to split partnership proceeds, or any of the other thousands of subjects ... it's been asked and answered, so try a search first.

Are the followoing profit splits reasonable in the scenerios below:1.

Also make sure you plan for extra layers of sheet rock to keep a fire rated wall between the garage and the new bedroom.

I'm definitely leaning more towards the VA option, I just want to see if any of you have good reasons for or against either option.Ryan Conventional pricing is around mid 4's to higher 4's while VA pricing in the lower 4.00's but if you price the VA to be on "par," with conventional meaning the VA loan with no VAFF (VA funding fee 2.15 - 3.30%) then you'd have a similar rate to the conventional loan apples to apples pricing wise.The one advantage you had mentioned is that the scenario above wouldnt be  apples to apples when it comes to down payment because the VA loan would have 0% down while the conventional loan you could have as low as 3-5% down (with PMI paid monthly or within rate or split premium).Also, you only have VA entitlement (if not already tied up else where) for usually one property or home so by using conventional you can keep an ace in the back pocket or conversely you could do a low down conventional low with no monthly MI and keep the VA in the back pocket for emergencies or future planning (in case you plan to move out to get another primary shortly after 1 year again).VA loan also has a lot of YSP or yield spread premium so you can do no down and no closing cost pretty easily or use the credits towards paying off the VAFF or taxes/interest/insurance etc while the conventional loan does not nearly have as much YSP or lender credit to offer so your ability to strategically plan with your rate is not as readily available as VA.Generally, I'd say VA all the way 90% of the time but there are reasons to keep it available.

I've seen lawyer fees of over $3000 to start an LLC but also rock bottom online assistance to do the same thing.

@Joe Splitrock seriously????  

Then a portion of that number is split because you still live in part.

They use the land for free, they build the house, you split the profits in whatever percentage fits.