If you take on this perspective, then your contractor is now the one in an exceptional position to be making 50/50, minus the risk, compared to what is considered standard.It sounds like your agent and contractor are both new to their professions, or at least that's what I interpreted from "... at the same time I'm kind of kick starting everyone's business too."

Rules are being interpreted differently from municipality to municipality and some places have their own COVID rules so I'd talk to your local eviction attorney.In the last three months we've been able to evict a handful of residents WITH leases, two because they were breaking the law and threatening other residents with bodily harm, and a few more simply because they were not paying but had the ability to pay. 

Now, if the LLC is a single-member disregarded entity not filing its own return, my interpretation is that you acquired the property for $30k.If the LLC files its separate return, it can buy the note from you for $10k, achieving the same result: $30k basis in the property.Or you can complicate it if you or your CPA prefer complexity.

.  They should be able to understand, interpret and explain the market that you’re currently in.

@Ian PriceFor the record, I disagree with the suggested interpretation of IRC Sec. 280A.

My interpretation of the balloon is that it is there to protect interest rate exposure from the lender. 

If you mean title insurance company, the company the policy is written on, if you get ahold of someone they will tell you to read the policy, they're not in a position to interpret the policy for you. 

I know it changes county by county depending on how the judges are interpreting things so just for reference, this is for Fayette county.

LADBS seems to have the correct interpretation of the scenario; you cannot have a JADU within the space of an accessory structure. 

Granted, we all have different interpretations of it, but this is a good place to start: https://www.biggerpockets.com/...