<prompt> Human: A couple quick questions;-Should I form some sort of business or LLC with them? What would be the best way to legally approach this from a purchasing standpoint.-Is it stupid to do this if we cant scrap together 20 of the house i.e. do PMI or something instead.-Is it worth the time and energy? The basement may have mold problems.-The house retails for 250k and is selling for 170k, our neighbors foreclosed on it after their divorce. Again is it worth it?-Just looking for general tipsopinions on flipping houses, one of the buddies has carpentry experience so he can direct us on what to do. All 3 of us have some money saved up. Im thinking we could scrap together 15-20k.EDIT: It sounds like if I do this, Im gonna have a bad time. Thanks all.  <response>: Renovations are ridiculously expensive. Where would the money come from for the renovations? If you cant even get 20 down.Im assuming you saw a HGTV house flippers TV show or something... Even on those shows, pay attention to how much money that shit all actually costs. And you think there might be a mold problem? This could be a big money pit. But, people do make a lot of money flipping houses and Ive never tried, so this is just my .02. 