If he owes a decent amount on the property, wouldnt the conventional route make him lose whatever interest rate he has?

If you default, you'd lose all that has been invested in the property.

It’s just part of the game**They have multiple leads & opportunities in play- If you’re banking on one contract to make or break your business, you’re already losing.

You will lose financially and you will ruin the relationship.

I would get with the city asap and find out all the details on this.It could be possible that if the LLC changes hands that it loses it's exemption.

I'm sure I'm missing stuff here but there's some food for thought.Thank you for your reply > The principal can always be withdrawn tax-freeI think that's where I lose you and the liquidity concern.

Don't talk yourself into a place because of personal use.Buying a $475k condo that brings in 35k in gross rental income will lose a lot of money.

Talk to the seller, but options are to cancel the sale (and risk losing your deposit), renegotiate to lower the price to allow you to fix the problems or ask them to fix it. 

The employer knows they won't report it to anyone for fear of losing their job.

This property will lose money for anyone not paying cash, and if they are paying cash they will make a very low ROI.