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I know this isn't the best place to ask, but there are a lot of affluent and knowledgeable people here on WW so I'll ask anyway. My wife and I have always been interested in a second home both as an investment and as a recreational retreat. We've found that as time goes on things just keep becoming more and more out of reach in our area so we've been kicking around the idea of going in on a place with a couple of our very close friends who share the same passion for boating, watersports and family fun. What I'm wondering is, are there any people here who can share some advice on just what it takes to write something like that up? Where do we start? Obviously, we'd need an attourney to help draft all this up, but I'm wondering are there documents that give examples of such arragments out there to review and get ideas from? Anybody know how the tax write off works when there is more than one party involved? Any nudge in the right direction would be most appreciated. For those of you in Eastern Washington reading this, we're looking for a view home on Lake Roosevelt, either Kelly Ferry area, or Seven Bays. We're also interested in Banks Lake area, but there just doesn't seem to be much available in that area as much of it is state and federal owned. thanks in advance.
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