Perhaps it was a situation where the borrower created value through the entitlement process and the lender treated the imputed equity as the cash contribution.

Has it significantly contributed to your success in the field, or do you believe it's possible to succeed without one?

This could come through contributions or perhaps rollovers as applicable.  

If anyone is injured by that animal, the attorney will be looking for a reason that something you did or failed to do contributed to the loss. 

Super low out of pocket, the best interest rate you can get, lowest closing costs, highest seller contributions, etc, etc.Keep in mind that house hacking REDUCES my cost of home ownership.

My post isn't meant to argue your idea, but more to contribute additional thoughts to the discussion.Thanks for the response and the discussion.

Their contribution to the LLC would be cash and yours could be the property and pre-construction work (and maybe some cash).

We have soils here that contribute to uneven floors and foundations, and yes @Carolyn McBride you can relatively simply jack the house up and reestablish fresh contact points for the home on the foundation.  

I would like to create an LLC and transfer both properties into the LLC along with a cash contribution for working capital.

Are there any standard practices for acknowledging their contribution in the transaction, or any recommended ways to structure this working relationship to ensure it's beneficial and compliant for all parties involved?