After arranging for the roof repair and inspection 3 days from now, is there anything else that I should do that would be prudent and practical.Thanks in advance for your advice!

Under the Dodd-Frank Act, if the loan will be secured by a property that the borrower will use for residential purposes, then the person who makes or arranges the loan would be defined as a “loan originator,” and must have a mortgage originator license.However, Dodd-Frank doesn’t apply to non-consumer buyers, so (for example) if you want to loan money to an investor who will borrow under their LLC to flip a house then you’d be exempt from the mortgage originator license requirement of Dodd-Frank.But since you’re in California, there are state laws that apply.

In private lending, the arrangement is whatever the parties negotiate (within the confines of the law)@Taylor L.

I went and discussed the arrangement with Justin and Amber and we all agreed that it was the route to take.

But I have worked out an arrangement with a local realtor who will be drawing up the contracts for me on the buy side, and will list and sell the properties that I’m flipping.

I went into my first large rehab project with this approach, met and walked the house with 10+ different general contractors, and they all told me that that payment arrangement would never work for them and that it would be impossible to find a GC here in San Antonio that would be willing to do that.

You might be better off doing a cash-for-keys arrangement or declining to renew the leases when they expire (find out when that is, BTW).I assumed a 10% vacancy rate, which is probably why my expenses are less than yours overall. 

@Robin Morales The problem is if they decide that the living arrangement doesn't work anymore, neither can exit if the other can't afford or doesn't want to buy the other half of the house, which seems like will be the case for the foreseeable future. 

Risk has to be met with a price reduction to offset risk.You'll have to but as is with no inspection and a price to match.Or the owner will need to evict and arrange to pay people to move all the stuff out.you could talk to the renter and offer cash for keys.

I travel a lot and am very familiar with travel trailers and I'd like to purchase a used 5th wheel trailer (These are the big ones that offer sleeping arrangements for 4-6 and all the amenities of a home) and use it as another stationary unit.