Need advice from investors who have done 6 months buyout of loan partners

[John Mason]

Good Morning all!!

Need advice from investors who have done 6 months buyout of loan partners

Scenario

Invest 50 k, loan partner invests 50 k , buy using DSCR in a LLC for STR

Agreement using attorney is, pay 60 k to loan partner after 6 months and then LLC has only one member which is me and I control that property

Anyone done this or a  variance of this?

Motivation is to overcome down payment hurdle for expensive houses for STR

[John Mason]

No I only need the money to buy the STR.. I will pay him off using another business credit line I have..key was that I want to show that my down payment is not borrowed money hence this plan