Write a contract that explicitly details who is responsible for how much money, who is responsible for what parts of the labor, who is responsible for "managing" the project, if either of you is to be paid during or after the project, and who is the sole owner or how the ownership/profits/etc will be divided. 

If you were to make it a habit, the CRA will catch-on fairly quickly.3) If this is your first extensive rehab be prepared (secondary projections) for things to take 2-3 times longer than you think up-front (this is part of the cost of education).  

Very good chance you're looking at negative cash flow there IMO...but I tend to be a bit conservative with my projections.  

Hey all, I'm helping a friend with his rehab project on one of his investment homes and I'm looking for some contractors that will put up drywall on the 2nd floor of his house.

All required building permits and any architects plans must be part of the project and the loan will pay for them too.

So far, the pros/ cons I have are:PROS: Dedicated GC/ Subs to turn projects fasterBigger pool of money to work withCONS: Less of control in decision-makingGoing into biz with girlfriend (of 20 years) could be bad ideaThanks in advance for any thoughts on how to structure things as well?

My definition of "overpay" is an amount paid that results in lower asset performance than was projected during underwriting.

I save for future investments and opportunities, but there's no reason that money can't work for you while you save for your next project.

Starting a development project in a 3,660 sq. ft.

I can also “drive for dollars” in your area of interest.I can help with follow-up activities for your existing projects: make calls, do site visits to check on progress, etc.Honesty, integrity and discretion/confidentiality.