Opinions on a rental partnership
I would like to hear some opinions on partnership agreements from some BP veterans that you have used. Or what agreement you would consider.
Two people would like to purchase a rental house. Person A will deal with tenets, renovations and maintenance. Person B will be bringing the money, and would help with renovations and maintenance. I would like to here from people on both sides of the coin.
Issues like....
How is the income split.
Who's name goes on the property.
Who pays for taxes, insurance, maintenance.
Exit clauses if someone wants out.
Differences if the house is bought cash or financed.
Any information a newbie might need to consider before I jump in would be appreciated.