One of the siblings had lived in it for years and filled it up to knee level in junk.

Also, bringing a high Credit Score helps a Mentor because you can participate in a partnership or Joint Venture.4) Motivation - I find this to be the hardest to verify.

You can sand stray grout off the wall and cut in a straight line with wall paint, make the joint look smaller and straighter with wall paint.

I don't want to be liable for anything going on with his existing GC business and I do have other properties that I want to keep separate from this joint venture. 

@Dylan Bard if your friend will be truly passive and not active in the deal (providing the money is not active), you cannot legally Joint Venture.

It may be better to initially joint-venture with a partner or two, where you all bring capital, and you all are active.

Typically, people stay in hotels or other lodging (AirBnB/VRBO) but I wanted to take a different approach.I would be looking to purchase a duplex with the intent to finish the basement and either convert to a full triplex if allowed or keep it as a duplex and rent out the basement separately.The Joint Travel Regulation (JTR) states that a member is not authorized lodging reimbursement if the member purchases or already owns a property that is used for lodging during official travel.It’s clear that I won’t be authorized reimbursement if I purchase the property under my name, but what if the title is under my LLC with me as the sole owner and rent out one of the units (probably the basement) to myself? 

Since you are a contractor you should look at Joint Venturing with folks.

If you get involved, it will be a time sink and you will get called every time someone gets their nose out of joint. 

I would look at Joint Venturing.