If the partner will be receiving part of the profits, you could both be in the LLC or you could be Joint Venture partners which is simpler for both of you. 

I look at the vehicles, are they 20 year old economy cars on their last legs, or are they newer vehicles that people are making payments on at a legitimate car dealership vs a buy and pay here joint.

My first knee jerk reaction is get her out of there haha. 

@Diego A.If any investors are passive, you need to setup a syndication since it is a security.If all of the investors are active, you can setup a joint venture partnership. 

If you have an issue with the way the landlord (you) has handled things your options are therapy or GET DOWN ON YOUR KNEES and pray.Your recitation of events reflect the owner acted in a timely manner and you failed to report the leak.

Your sibling can either take the cash for their 30% or they could do a 1031 of their own.If you and your wife file a married joint tax return then the IRS sees you as the same taxpayer. 

There are some other extenuating circumstances that allow one to use more than one FHA loan at a time:- Relocating to an area beyond reasonable commuting distance to your current residence or affordable housing is not available - Leaving a jointly owned property to buy a home, and co-owner (such as divorce) plans to remain in the home.

Joint Venture / Partnerships. 

every joint venture is different .

Getting up and down, being on your knees, bending over all day.