Hello @Daniel Reed,The supposed advantage of multi-family properties over single-family homes is misleading when you look at financial performance.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Registration and Financial Considerations for the Second Company:Is it possible to register the second LLC on the property (as part of the 50%-50% model) if it does not yet have an EIN (Employer Identification Number)?

It only happened once, so you have no evidence that this is anything but an honest mistake that's been corrected.The bigger concern is the 583 credit score, because it shows a pattern of financial mismanagement.

Especially during Christmas, situations like this can feel more personal than just business. 

I'm curious if this has come up with anyone else and what I can do to help the seller in the situation to get the deal?

I would be amazed, shocked even, if a traditional financial institution was willing to lend on a non-habitable asset up to 80%. 

We're dealing with utterly incompetent property managers, but once we solve that situation, it should cash flow well...

@Sawyer Smith, you mentioned that you’d be running the fund yourself.. it reminds me of a situation my cuosin found himself in a while back.