Of course most GPs have personally put in money to keep the deals from sinking.

This means, on average, that this person is facing foreclosure or bankruptcy, and has no other reasonable options.

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

Myself personally I'm invested in Buffalo and NYC, but that's because it made sense for *me*. 

can anyone you know in person vouch for this lender? 

You must report rental income on Schedule E and can deduct rental expenses like repairs, maintenance, property taxes, mortgage interest (allocated between personal and rental use), and depreciation for the rented portion.

If you make the person an LLC employee you can get around it, but partner does need to be careful. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

HELOCs are fine, but keep in mind that you really only want to use 50 percent of less (each) of your available equity just so you aren't creating a problem that you can't solve later if the value of your personal residences fluctuates.If you both have W2 jobs though, have you looked into getting qualified together and just getting a loan, 10 percent down each?

what kind of investment was/is this  a little more detail may protect others if you think this person is a financial predator.