Your LLC is a Texas LLC for legal liability purposes, and it is treated as a partnership for the IRS purposes.No changes needed.If the second member is your wife - you will simply report your rentals on your personal joint return.

Mold remediation is simple - address the source of water, remove stained and/or wet soft surfaces and treat with bleach.

If it's in writing, you can give the exact same answer to everyone, which demonstrates you are treating everyone equally and honestly. 

Keep the paperwork of the lending deal.What your CPA suggests is a more complicated solution: treating your deal as a partnership.

There may be value in using the current lender to do the new loan if you could get away with not having to do some of the appraisals or valuations, but usually these are just treated as a brand new loan. 

My first thought was to treat a new home as an investment. 

In Texas, for example, a dual agent can happen but they are suppose to treat both sides equally what they know and do not know. 

My point is its not that expensive to treat for them, you probably don't need to "tent'' the house to fumigate or anything like that, beware of good exterminator salesmen that convince you to spend several thousand dollars on treatment.

That way it will be treated as regular income for tax purposes and not on schedule E.

IMHO, treating your investors right and keeping your promises is the best way to avoid problems with an investor but it's a good feeling to know we're well covered in case things go bad.