Erase everything in your plan concerning an LLC and proceed.

I had a very irresponsible business partner who lost his portion of the building proceeds on day trading.

Anyone know a contractor who will do work and get paid out of the proceeds of the sale of the property?

Take pictures as the work proceeds to show how much and how long it took.....use the pictures to make it look as bad as it really is :-)

I just want to make sure that is not true because I want to proceed with lender two but dont want to get caught in a jam. 

I have several question regarding this situation, mainly just looking for a rough roadmap of where to proceed from here and to learn some more information to get a better understanding of the process.

The fines are real (we had a Client on the brokerage end that accumulated $20k in fines, all of which were attached to the property and came out of her net proceeds at time of sale), do not ignore themI think the most important item is to hire an attorney to get moving on the eviction

You can always invest some of the proceeds in more property. 4.

Theoretically, you could do a cashout refi every x years as value & rent appreciation allow.If you want to really focus on cashflow, then you may want to sell the inherited property and re-invest the proceeds in properties with higher ROIs and potential.

(He has not taken a salary from the nonprofit in 20 years- but the proceeds go to a cause he cares deeply about)  Currently, my sibling and I own 40% of the building, and the nonprofit owns 60%.