Based on what you described the LLC is likely the tax-payer on title.

Ray, the strategy you're describing is commonly known as "seller financing" or "owner financing."

I have had mostly great guests, but the few that I've had that were terribly messy (much of what you describe but also smearing pizza toppings on the floor, having an easter egg hunt (I found some of the eggs) with chocolate in fabric and pink maybe egg coloring staining two sets of sheets) and yet were given 5 star reviews from prior hosts.  

A lot is riding on him based on what you described. 

I can't imagine trying to turn it into a full time business unless it is the way that @Don Konipol described it (i.e. volume, lots of staff, good processes to identify and claim funds, etc.).  

@Timothy Grothuesmann  What your describing is Collusion.. and is highly illegal its a felony.people get busted all over the US doing this.. its not an advanced scheme its criminal acitivty.its called lunch money ,, Walk away money, wink and nod money   etc etc.FBI gets wind of being rampant in a market and they will send in schills...

Yes you can as long as your father will live in the home as his primary residence and you put enough down to cover your portion of the loan that VA will not guarantee.Here are the VA guidelines for calculating the down payment.VA calculates the guaranty as described in the table below.Step Action1 Divide the total loan amount by the number of borrowers.2 Multiply the result by the number of veteran-borrowers who will beusing entitlement on the loan.There is usually only one veteran borrower, in which case the resultof this Step is the same as the result of Step 1.3 Calculate the maximum potential guaranty on the portion of the loanarrived at in Step 2 (as if that portion was the total loan).Use the maximum guaranty table in section 4 of chapter 3 of thishandbook.4 VA will guarantee the lesser of:• the maximum potential guaranty amount arrived at in Step 3, or• the combined available entitlement of all veteran-borrowers.5 VA makes a charge to the veteran-borrower’s available entitlementin the amount of the guaranty.If more than one veteran is involved, VA divides the entitlementcharge equally between them if possible.

Every HOI quote in Louisiana I've seen in the past six months has been crazy, but your new roof will help a ton.For reference, we have one LTR in Zachary that's a comparable property to what you've described and are getting $1800/month for it.

From the way he describes it, I think it is an REO, so I need to make sure that he understands that with the points the seller will have to pay for the VA loan it is not a sure thing (as if anything is).Can anybody assume a VA loan?

That's like a whole other world what you are describing there!