We both run our own businesses but we feel that real estate will help make sure we both maintain our life plans of not needed to work as much any more.

Beg family and friends to fund it for you.They "might" do it if they see you've learned a lot and your business plan sounds very solid.How do I know this "might" work?

Quote from @Alex Moazeni: You are making the common mistake of allowing a tenant to push you around.This is your property.

Friendship and business don’t always mix well, so it’s critical to use a solid lease and treat this as a business arrangement.

I own the property free and clear and i use the equity as part of my business line of credit.

These loan products include a partial release feature that allows them to be repaid gradually as TIC interests are sold, and ensure that the sold TIC units are not encumbered by a blanket encumbrance.- The variety of financing products available as individual tenant in common loans remains limited, and the terms are generally less favorable than either apartment building loans or condominium loans.

The founder appears to have been involved in businesses outside of real estate: ‘My dream is a locally made grooming products business’ | People | nashvillepost.comSo it does not appear there is a lot of track record there, but those are questions I would ask.

You should also verify whether the lease agreement allows for ownership transfer without landowner approval.Owning the trailer means assuming responsibility for lot rent, potential removal costs, and liability risks.

My idea was I could live there immediately and also do all the minor work that would not require an actual tradesmen, which would allow me to start building equity.

My business is built around doing deals for out of state investors and my mind is BLOWN by how many flat out refuse to come visit, meet our staff or walk the property that they bought and we are rehabbing for them.