Like you said, a real estate attorney would be a valuable person to talk to, but here's what I have: Considerations: short/long-term rentals, co-ownershipTo keep your favorable mortgage rate, you can consider a Joint Tenancy or Tenancy in Common agreement without refinancing.

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

Not so dissimilar from most note joint ventures agreements.

Our loan agreements state specifically the insurance requirements and the borrower must comply.

And then create an operating  agreement with the equity and cash splits? 

According to the agreement, she is also supposed to pay a penalty of $200 ($50 fine + $150 for $10 per day).

In this scenario, each member doesn’t actually own real estate, they own a business (that owns real estate).If that is the case you have two options: 1) The LLC performs the 1031 exchange and continues to achieve the goals of the managers through changes or details added to the operating agreement and subsequently consider dissolving the LLC. 2) You dissolve the LLC and reform as Tenants in Common *prior* to the sale of the property.

With the delayed settlement  agreement, would give you time to clean the house up a little and market the house using the short date sale method. 

I am in for 175 and while I do have contingencies for the inspection period that would allow me to terminate the agreement, that really is my last resort.

Is the next step to fill out the Request for Tenancy Approval form, have the tenant confirm their agreement, and then send it to the Public Housing Authority to schedule an inspection?