We lived there for a couple of years and were able to build over 150K in equity with the renovations we made.

Penny Penny, PLEASE take a moment to go to the Syndication FORUM here on Bigger Pockets and read the innumerable stories of investors who have had their distributions stop shortly after investing, lost principal, or now have their capital tied up for TWICE as long coupled with no distributions. 

Condo convert this so you will separate the property into 2 APN's thereby, somewhat, making it exempt from rent control  if done strategically. 

I will be going down there in a couple of days, and interested in building/developing/investing, I am a licensed Mexican Architect, I have friends living there as realtors, US investors, and US builders ready to pull the trigger. 

It's been a couple of years since my last refinance (conventional loan of $200K, value is around $275-300K). 

I have been in touch with a couple US based ones that lend in region.  

Just before we launched our first couple MTRs we started reaching out, networking, and pitching our model to local companies.

Coupled with tailored marketing efforts, these enhancements attracted buyers and significantly increased the property’s profitability.

I was for a couple years.

I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.