If your rents are already higher than market, and you don't have common area care included in your costs, either you're trying to squeeze every last drop of blood out of this or you are trying to make properties that don't really work, work.

Doing deals gets into your blood!

You can get a gift for a down payment but it must be from a  blood relative or "like" relative  and the you must explain the close relationship and why the "like" relative would give you a gift. a GIFT for downpayment is money given willingly to a buyer without repayment. 

Way too extensive for my blood.

Comming and going you are screwed to continue trying to get Blood from a Stone with Flipping, after Taxes. 

However it could be worth 170k-180 if everything was fixed and I think I could get it going as a functional rental property for the purchase price plus another 20k and some blood sweat and tears and maybe could get it reappraised in a year and do a heloc, but I could end up being 160k in when you factor in lost rent and is 10-20k inequity worth the gamble? 

You can't get blood from a rock, but it sounds like he would be able to cover your extra expenses assuming you won your case against him. 

For three or more unrelated by blood or marriage, I require each individual to make 2x the monthly rent.

Remember, LLC's are legal entities, I guess think of them as "cold-blooded" persons who can't move from State to State like a "warm blooded" person like us, formed within / by a State. 

(This is about taxes)You need a Zoning Permit for Visitor Accommodation:To rent your home for stays of 30 days or fewer.If the property is not your primary residence.Housing requirementsSmoke alarms must be installed:In each bedroom.In the hallway in the immediate vicinity of the bedrooms.On each floor of the home, including basements.Carbon monoxide alarms must be installed:Within 15 ft. of the entrance to every bedroom or within 15 ft. of a bed in sleeping areas if there isn’t an enclosed bedroom.Centrally on a wall or the ceiling, but not directly in front of a door to a bathroom or within 5 ft. of a cooking appliance.Under the installation requirements for smoke alarms if they are combination smoke and carbon monoxide alarms.You can’t post signs for lodging on your home.The home can’t be occupied by more than three people (including the owner and renters) who aren’t related by blood, marriage, life partnership, adoption, or foster-child status.You cannot change your house so that it no longer resembles a private residence.Information you must provide your rentersRenters are only allowed to have guests between the hours of 8 a.m. and midnight.You must tell renters the trash and recycling collection days and any trash disposal rules and regulations.