Do NOT buy anything from the Detroit Land Bank!

The person in the response above who got crushed by a $5000 repair never did have $100-200/mo. cashflow.

Recently had a conversation with an MLO who had their license with Company A (NMLS regulated) and then on the side, this person conducted commercial-only business loan-related activity by starting their own LLC (company B) in the states where no mortgage licenses are required.

Yikes I am almost afraid to jump in on this one, however, I know Joe personally and he is not a scammer.

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

Yoru bank probably wants yoru mailing address to match your ID. 

The interest rate on a HELOC or Heloan may be better than the personal loan. 

Yes, Spain is one of the countries in which banks will lend to non-residents (they generally don't) but Spanish banks are much more conservative than US banks so it's more difficult to qualify, especially if you don't earn W2 income.

I’d never had more than $2,000 in my bank account up until this point.

Local banks.