Personally, I've felt the investment has been poorly run in almost every possible way.

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

This means, on average, that this person is facing foreclosure or bankruptcy, and has no other reasonable options.

Myself personally I'm invested in Buffalo and NYC, but that's because it made sense for *me*. 

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

Of course most GPs have personally put in money to keep the deals from sinking.

You must report rental income on Schedule E and can deduct rental expenses like repairs, maintenance, property taxes, mortgage interest (allocated between personal and rental use), and depreciation for the rented portion.

can anyone you know in person vouch for this lender? 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

If you make the person an LLC employee you can get around it, but partner does need to be careful.