I am planning on learning about MF investment and my curiosity is piqued by your success story.

All expenses are paid by the plan and all income produced accrues tax-sheltered under the umbrella of the plan.

And yes you can borrow from a life insurance policy but will accrue interest and when you die the cash value will be deducted from the proceeds available to your beneficiary.

Vlad - here's another way to think of this:Either you are purchasing the asset (real estate) or buying the equity.In the latter scenario, I use an Equity Purchase Agreement that spells out the terms in a very simple format.Total price for equity is ____Based on loan or liens balances estimated to be ____Back payments ________Any actual balances that are higher to be deducted from sellers netAny balances that are lower shall accrue to buyerYou can structure your offer based on my ONE - TWO - THREE formula:1) $ for signing2) $ for possession3) $ for marketable title or seller carry back noteTry to leave lots of white space on your proposal so seller isn't distracted by legal weasel clauses.

Out of curiosity, where in AZ are you?

As I stated before, I would definitely be interested in how your house would do on AirBNB - but I admit it's intellectual curiosity, primarily because I don't expect there to be a high demand there.  

@Josiah Swartz Out of curiosity, would you purchase this property (or one like it)?  

What you suggest here relative to splitting profits and expenses seems reasonable and pretty standard, although your team may not come into agreement with a buy-out without capturing accrued equity.

Just out of curiosity, why don’t you think Lowe’s or Home Depot aren’t the best options? 

Whenever I write purchase offers on tenanted properties we specify that "accrued rents" are due to the buyer at closing which requires the sellers to pay the amount of rent due regardless of whether tenants are delinquent.