(Negotiable based on borrower experience)- Execute Joint Venture Agreement- Profit will be split based on deal and level of experience of borrower- Agreement term is for 6 months, after which, borrower profit split is reduced to 50% and I assume management of the project.Does this sound reasonable?

Personally, I would come up with a number where I would be happy to sell, even though it will likely be much higher than she is thinking, then let her know what it is and to let you know if she's interested at that level.  

I got a little off topic but it's important to realize no matter your level of experience, mistakes can still be made. 

Im pretty excited about taking the plunge on this one, and would love some insight about how to make it to this next level of larger complexes!

I am not sure if I want to do this... we are in our early 60's live debt free...except for college for our youngest daughter...and I am wondering if a credit union would be are best option or other source.Thank youVictoria

What level of finishes? 

Although my background is in accounting, the only experience I have with tax law is one college course.  

All title companies have a corporate council but they are not in the trenchs and they certainly do not create ANY" documents they are at the corp level... unlike closing I do out your way were the Attorney is our version of an escrow officer.. here Senior escrow officer will know as much about transactions as a buyer or seller would need to know.. you go to the attorney when you have a claim or like your talking about if they are going to override a title issue...

I went to work on her that summer, teenage kid too far from home...Garth Brooks song lolI was 19 years old, (year 2000) just dropped out of college, and was ready to get at life. 

I have just finished a job on a beat down home in Fargo next to the college.