That's why we require clients to spend a couple days with us in Milwaukee up front, so we can get on the same page and determine an asset quality.Hint: the hood looks much better on a spreadsheet than up close in person.

How can I structure this deal to protect my interests?

Worried about asset protection.

The LLC doesn't actually own the asset and most real estate lawsuits involve the actual property, so I'm unsure that it's providing you protection. 

Not a lot of protection.

Federal Laws Prohibit Discrimination of 7 Protected Classes, Massachusetts has added 8 more:-02.Always know more of the Rules/Laws/Regulations than ANY Tenant.

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

Protecting yourself in a sandwich lease isn't usually a problem. 

This is advertised as a “protected” note as Aloha is supposedly fronting the first $100k in the line of loss.

I actually have very little comfort in Trusts providing much protection.