In case of an unexpected expense and a required cash infusion from the partners, any thoughts on how that is handled best?

We know there are unexpected expenses.

As a buyer make yourself delightful to deal with.

I'm working on a project and the feedback would delightful.

Unexpected expenses and day-to-day stresses of management 4.)

This helps account for unexpected expenses, increases in living expenses (kids, kids education, health care, etc.).

You will also sign a mortgage and on the mortgage, there will be a clause that requires you to move into the property within 60 days and live there for up to 12 months (assuming no unexpected circumstances: e.g. your employer moves your position) all of this said, using a FHA 203k or a Conventional Homestyle Renovation loan to purchase a home can be very beneficial.

Anytime you go to do anything in an old house, it turns into a huge project with lots of unknowns and unexpected expenses.

As a side note I experienced a unexpected expense last week that I still do not have a total on but estimate in the 10 - 12K range.

Originally posted by @Jennifer Gligoric:Because of what I've seen pretty much across the board whether it is lotto winner, inheritance or even unexpected work bonuses - the first thing I would do is limit the exposure to anyone else knowing about the windfall & immediately make plans to properly put this in one or more anonymous structures, as well as, change my retirement into either a Solo 401k or SDIRA so I could be more in charge of my own money & have the ability to act as my own bank.Because I'd want to use a good portion of the money for investing, I'd set up that structure and use a Traditional LLC as my shell corporation and get my accounting in line and then get my estate plan to line up making sure to have all the directives, POA's & pour-over so my desires, and not anyone else, would be upheld if I became incapacitated or worse.I'd want to protect myself from petty lawsuits or mismanagement from the earliest stages.