If you don't have an agent...well...nothing is a problem until it's a problem but our advice and opinions are meaningless if you actually need to use your insurance.It's vitally important that you understand exactly what you have before you need it. 

I don't know if we can get anything back as there may not be much left in the LLC, but at least he should be held accountable and not keep doing this.I read  largest portion of this thread from start to finish. 

I’d suggest exploring a bridge loan that covers a portion of the purchase price along with 100% of the renovation costs.

“Passing Good Cause is not only a step toward tackling these systemic issues—it is the vital foundation to any meaningful action.”In a free market economy, how will those providing housing react to a law that forces them to house non-paying tenants for free? 

So all in all, the investment seems solid to me, and this is not my first rodeo, as they say.As for the risks associated with the SBLOC, I minimize those by only utilizing a portion of the LOC so that even if the market drops another, lets say 30%, the risk of margin call is slim.

Also the idea that occupying a 'piece' or 'portion' of property allows for AP is flawed.

Often times you will pay much more in taxes than if you pulled the money out, paid the taxes and penalty and then started investing in real estate.For example, with the financing you mentioned, the IRA must pay taxes on the portion of the profit earned by financing. 

Some places do this annually, some places do a portion of the town every year giving them a total cycle of about every 4 years, and in my area it’s common to do a whole town reevaluation every 4-5 years.

And each former LP (now a tenant in common) can do a 1031 exchange on their portion. 

Every month, I collect a payment from Don, use a portion of his payment for my payment to Chase and keep the difference.