So to Bob's point, I hope you see that nothing is "straight forward".  

Respectfully,Zach The best bet is likely to create a new LLC that lays things out in a straightforward but legally strong and standard operating agreement, etc. - LLC doc sets are fairly cheap and easy to create these days (with limited assistance from lawyers) and its much much better to have that cover bases on arrangements like this - it will also fit nicely with financing options - whether you take on debt from a lender in a co-equity situation like your first plan (refinance loan to LLC post rehab?)

The situation seemed straightforward: a family was facing foreclosure on a well-maintained home.

If memory servers me the key word is intent.

@Chris Seveney, I have been interested in HELOCs on investment property for several years, and have a key word search for that specific term. 

These reports provide a clear view of your financial health and make filing taxes straightforward.3.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsI hope BP serves as a helpful resource for your REI endeavors!

Set up some keywords so that posts that interest you will be directed to your email.

Connection per keyword.

The other three properties will not be considered by the segment.So, focus on selecting a tenant segment with a high concentration of reliable individuals and purchase properties that meet their housing requirements.How to Identify a Tenant SegmentThe process for identifying the segment for income reliability is straightforward.