Tapping the LOC will impact your FICO more than getting new loans for purchase.I could go on, but the net is, I would recommend against it.

Hey, whether its legal or not, people will continue to smoke the pot.

The big red flag I see is that there are so many hands in the pot, this could cause a web of legal issues of things go south.A deal like this can be a little complicated too, and if you move forward, you will need an attorney to draft the structure of this deal to protect yourself.

Smoking pot every day for 15 years is a problem?

My thoughts--- We continue to throw more money in the pot and that DOESN'T work.

But it's time to close or get off the pot!

Parking lot maintenance is another sub-contract issue, pot holes, painting handicap signs and lines can be taken care of by you local paving company.Anyway, you get the idea, sub out when you can, have at least two plumbers and electricians on call, you can really get the cost down too if you get with your local trade oraganizations getting younger guys who are licensened, but starting off.You might be adding all of this as employee overhead, don't know.

We can get to financing after we find out what kind of pot we need to fill.

Consider the other unit a rental and simply insure it to prevent any tenant from falling over your flower pot!

If a PASSIVE income of $800 a month (net) is enough for you (while you're going back to school, and I'm assuming you have other sources of income) then you can get it out of a $100k property that you'd purchase for cash.In 5-6 years when the market will recover you'd be able to sell this property for 160k.