I'm glad you shared this and with this person's permission and not divulging anyone's name I'd like to copy your message and send it to the person I've been working with.

You should be able to find a local investor or two that's willing to share information with you.

Does anyone have recent direct experience in a deal like this that can share what the wording of the agreement and the LLC should look like in FL?     

The one side was heavily smoked in, and they share hvac ducts.

@Darren Sager shares a lot of the same perspectives as I do.

Thank you for sharing your story.  1st goal: Capital Preservation.  2nd goal: cash flow.  3rd goal: grow that nest egg.  

Gonna stay tuned in as well, thanks for sharing this.

I told him I can purchase the property as is, no need to fix anything. he told me he can't sell the property with that type of problem. im not sure if it has something to do with legal issues or if he just does not want to sell until he fixes that himself. the conversation didn't gave me the opportunity to ask this question at that moment.

Thanks for sharing.

Very good job getting the reserach part down.Now you need to focus on buying the first investment- You need to decide- do you stay in CAlif and bank on further appreciation, or do you go midwest and get cash flow and lower entry costs.Its nice to diversify (I have both) Specifically Temecula, CA and Indiana.The local ones in Temecula have great tenants, stay a long time and pose few problems The lower income ones in  Indiana has a much higher cash flow, but also have their share of evictions, and issues.