They both insist that there are creative ways to structure this deal so that me and my mother can LEGALLY , and secured by CONRACT, be able to collect the net proceeds, and split it 50/50 as her and I agreed from the start.One of the proposed arrangements I researched and sought legal consul for, and am fairly certain would in fact still be an act of fraud.A broker brought in an investor who proposed the idea of purchasing the Mortgage Note, and giving us the difference, secured of course in advance by a contract where we would agree to forfeit the Security(house) once the note was purchased. 

That would include all of your outstanding monthly payments that show up on your credit report, including a proposed housing payment versus your total income.

Get the occupancy they are proposing and if it is a single family or multiple unrelated people. 

As we know housing doesn't paid for more garage space, with the proposed cut around $9.5 billion in 2018, my rent is not getting SAFMR (small area fare market rent) if I include 3 car garage.   

I know i got a nasty gram from the state when i proposed to do just one loan for someone.. and its next to impossible to find a guy like me NMLS licensed and state licensed to write these small loans for others.. simply no money in it..not worth the time.when most RMLO s can work on a regular bigger loan and make 5 to 15k fee.. 

Interior has a walled and lockable 14'x12' office, large overhead door.Main driver of this proposal wants to continue using the space, and feels somewhat entitled due to them having performed some infrequent light building maintenance and lawn mowing over the years.

Hardship and grandfather provisions are typically included in a rental restriction, so monitor the discussion and proposed language, should your board contemplate the restriction.

@Bret ClayborneThe IRS allows any "reasonable" allocation method, and I can't think of a more reasonable one than what @Logan Allec proposed.

anyhow, my agent proposed this property to me purchase price $185k arv $370k with a $60k reno budget.

He has now proposed to complete the renovation of my multi-family in exchange for ownership of the other property.