Have you heard of the term "acting in good faith" ?

Having been in the lending space for a while now,  Interest income is not passive - its considered/taxed as ordinary income- just like interest you receive from your bank and savings account.Regarding profit and expenses from a flip, "that depends" on many factors but again if its short term capital gains, its not tax friendly.As always consult with your tax advisor / CPA. 

When I decided to find a new real estate accounting software platform in the fall and finally untangle myself from the nightmare of Quickbooks, I had no idea it would take me this long or be this complicated.

Hi Jason,They are available, but a regular cash out may be a better option depending on the use of the funds (short-term or long-term).

I don't think this is a good idea for the sole fact that you intend on selling after his passing.Once they pass (which I hope is a long time from now), those who inherit the house will benefit from the step up tax basis, meaning the net proceeds could be TAX FREE.

Purchase price: $180,000 Cash invested: $75,000 I purchased land near the ski resorts to build short-term rentals.

Curious how that’s been performing?

What are my options in terms of bringing in a new partner?

The long and short of it, you'll more than likely need an architect to draw plans to do the conversion.

I have been considering for a long time investing in multi units.