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

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.

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.

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.

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

@Michael Quarles I can honestly say that I've never gotten any solid business from postcards.

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.

So if you are in a 30% combined tax bracket you get an additional $3K due to write offs.If it is a rental, you can write off the business expenses and the depreciation on the non land valuation. 

Most DSCR loans allow LLCs to hold title and sign the note.

Over the past 15+ years in this business, i have seen the good, the bad, and the ugly.