Also to make it legal, you need to make sure you have sufficient egress, fire separation between upstairs and downstairs and technically you need entirely separate mechanical/plumbing/electrical systems.

Maybe, this would be considered a distribution of property from the LLC which would cause a taxable gain should the llc not have sufficient basis to take from.For #3 and for all of your questions really, there can be a lot of hidden complexities depending on your exact situation.

The loan amount is sufficient for me, as I am not looking to borrow more than necessary anyway at current rates (7.35% seems to be cutting edge right now). 

So we look for sufficient capital reserves to be sure people stay out of lawsuits. 

You mentioned using an FHA loan, but that poses some real challenges in the city for a three-unit building because it's very difficult to find properties that can pass the FHA self-sufficiency test.

In your example if value is not sufficient, they will hold you each accountable and if your four partners disappear, the bank can still hold you personally responsible for the entire deficit.

Micah Markowitz , cash advance is not a sufficient way to withdraw $50-$10k from CC's.

The gurus” selling mentorship’s and “canned” programs to a inexperienced investor oversimplify the strategy; ignore the difficulty; incorrectly claim that the education they provide is sufficient for success; lie about their own qualifications and experience and success; belittle “real” business/financial/real estate education and provide a totally unrealistic picture of lifestyle, effort, and chance of succeeding.  

Nine times in 10, the truth shall set you free, and real life contains sufficient true facts to make it work. 

Not sufficient to build a dorm style house, but he had to add a very large ADU (the ADU looks much nicer than the primary dwelling).