For me, weekly check-ins and just being real with my team—like saying, “Hey, I’m not sure, let me check on that”—have saved so many situations.

@Dean HalpinI’m not an attorney and can’t offer legal advice, but this situation seems to have the potential for a lawsuit for unpaid wages.

This type of short-term loan can provide the funds needed to renovate the property.

There are DSCR lenders will allow only a single 20 or 25% owner of an LLC to sign a Personal Guarantee (other owners are not on the loan, or liable for the loan).

Also, with a VA assumable, if the one assuming the loan is not a veteran, then the seller (veteran) entitlement will still be tied up in that property.

I flip with cash, not loans, mainly because there are not enough deals out there that meet my highly selective acquisition criteria, so no need to pay interest on cash otherwise sitting in a money market account. 

You need to understand that given your situation the asset and operational impact must be absolute minimal, lowest risk exposure possible.

There are likely work arounds and you will need to discuss with a loan officer.

I'm sure it was highway robbery - it certainly was based on the man-hours it took - but when you are in a desperate situation, you do what you have to do to get yourself out of it.  

Selling and buying something else you want keep and doing a cost seg in would help with the tax burden probably better in this situation.