There are a lot of specifics pertaining to this and every lender is a little different in their interpretations of guidelines.

I am not an insurance agent, but I would be curious to hear from someone in the field who could explain how this would have played out differently had the properties been in an LLC and not a personal name.

But every person invests for different reasons and goals. 

He was very patient with us as first time real estate investors and went to bat for many different properties for us.

Racine and Kenosha Co are side by side but their housing authorities couldn't be more different. 

What I am saying is the tax bill for you could be wildly different depending on how long your partner has owned this property and how much depreciation they have taken.  

Do you have clarity around different options there are to create cashflow besides pure yield/interest/rental income?

@Robert Brock, I guess my advice is not really any different than I would say to someone wanting to be a residential wholesaler: you need to add value to the transaction.Often times, having the deal tied up is the value, but more often then not, in my limited experience with commercial wholesalers and residential, the wholesaler has no idea what someone will actually pay, so they tie up a deal at too high a price and then add their fee that turns a bad investment into a horrible investment. 

It’s a straightforward read without much fluff and breaks down different strategies based on your market.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.