Everything else is fair game. 

I’m considering traditional lenders, but open to creative options.If I were to bring on an equity partner, what’s a fair and motivating structure for both sides?

I own land and a fairly new mobile home in Henderson Co.

Both options you’re considering have their pros and cons.Converting your garage into a studio would give you a fairly quick ROI with the potential for passive income.

Fair enough, thank you!

This needs to be highlighted in the lease and acknowledged by them.Security Deposits: You can’t use their security deposit for routine cleaning, but if they leave things in bad shape beyond normal wear and tear, it’s fair game to deduct cleaning costs.I’d start by having a straightforward talk with them about the importance of keeping things clean for health reasons and property preservation.

To be fair however, I'm looking for permanent debt on a mobile home park I own in which the trailers are also included in what I own.

If so, you will need to rollover those funds into respective money sources of pre-tax and Roth. 2) Analyzing whether to use IRA or Solo 401(k), is fairly straight forward, when the intent is for you to have your own business and want to use the funds for real estate investing.

Your daughter can gift you the $31,000 equity by selling the house to you at a below fair market value price.

I do think this is a great way to get started with a fairly small amount of capital assuming you make enough to obtain the loans.