The proper timing and structure of that loan are unclear from the information in your scenario.

They said it was a lot easier and better to simply create a new LLC to properly match what you are trying to do.  2) So, that is the other route, creating a brand new LLC.The PartnershipThe hardest ship to sail is a partnership, and there is no "fairest way" to do things. 

Your agent should be able to point out if the property was properly renovated or if they just slap something together to make it look good right before sale.

The people who properly saw the benefits of RE, low rates and took a risk on those beliefs benefitted as should have happened.  

With using the FHA loan, your offer loses a large competitive edge in the market, but a good agent will navigate it properly for you and also weed out the unqualifying homes.

It should be cash flow positive once you leave the property, again you must know how to properly run numbers.

I would just say that before you go full scale, get an attorney to order a full title search and do a proper review. 

I am not sure if anyone ever cared to pull together the data but I am quite confident in saying a study that compared licensed to unlicensed contractors would tell the story of unlicensed contractors seeking greater deposits in relation to total project costs than those with all proper licenses.

I suppose this is a good problem to have, but the liability potential has me convinced I need to speak with a proper lawyer and CPA professional.I have read through Garret Sutton's first book (Start Your Own Corporation).

Criminals and homeless will typically move on to an easier target.It is better to spend $1,000 - $2,000 to properly secure the property than to continually deal with these problems and expenses.