It sounds like a good deal to me. I would (uninformed opinion): - call everyone you know to find someone experienced who can advise you through this - get an

It sounds like a good deal to me. I would (uninformed opinion): - call everyone you know to find someone experienced who can advise you through this - get an experienced laywer to review the deal, and also talk to a good tax laywer - tell them you need 3 weeks before signing: you need to get an LLC and your internal agreements on paper before signing something.