So I think moving the lot lines so the house and 2nd lot can be sold separately or even developed and also doing a moderate level renovation could really increase the value of this property overall. 

Once you've re-read what I mean by CPM- who else out there has developed their own CPM, or who else out there sees the need for a separate PM strategy for coliving properties? 

For your specific question about doing a JV on the loan, my suggestion would be that both go on the loan and then do a separate joint venture agreement...because you can not have an LLC on the loan for those loan types, they need to be in your personal names.I am not a lender so maybe one of my lender friends could chime on exactly this would work @Zack Karp, @Michael Facchini, or @Jose Valdovinos?

If you're living in a separate dwelling this can work out great! 

Other people are moved emotionally by them.

When you do move in, it will be important to separate out direct and indirect expenses.

My late wife and I held joint interests in a piece of real estate in our separate individual self directed 401k accounts.

@Chris Yeung  @Julian Buick  @Steve MorrisGood morning gentleman.Just to provide clarity in this post, there are three (3) separate companies: 1) Norada Real Estate Investments2) Norada Real Estate Funding3) Norada Capital ManagementThe Promissory Notes you're referring to belong to Norada Capital Management.

Also, try your best not to buy based on emotions (lol).

As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.