Today we basically run two businesses, one in REI and one is a brokerage team.

Publication 15, Employer's Tax Guide, says only this much:...Payments for the services of a child under age 18 who works for their parent in a trade or business aren't subject to social security andMedicare taxes...No definition, and IRS publications are not really law anyway.

Quote from @Paige Corsello: Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida Paige I can go 80% cash out in PA In FL I can go 75% cash out and 80% rate and term

I'm also concerned about the liability that I might be exposed to here by allowing what appears to be a business to operate out of my rental.

This will be based on the personal details of your business.

My company is licensed in 31 states for owner occupied loans (check my profile) and I can lend in 45 states for business purposes loans (nonQM and dscr loans).

@Tar-U-Way BrightYou can use the LLC to set up business bank accounts and business credit cards.

RickTreat this like a business.

I have a rule , never do business with family or friends .

This is why I have an experienced legal counsel involved early in the process. cool  kind of like companies that factor business's account receivable.