While I've posted a handful of times elsewhere, as I am now at the point of looking to make a first investment I wanted to formally introduce myself.

If I have an LLC, and I formally loan my personal cash to my LLC (promissory note and all that) - that seems to work just fine.

I was taught that a judicial sale will wipe out all leins except federal. 

Originally posted by @Russell Brazil:I dont know what your contract states....our contracts state an interest then say "or market rate."4% wouldnt have been a possible interest in almost a year now.Our contract doesn't talk about market rate, but says the interest rate should not exceed 4.0% - maybe it's just a placeholder for formality.

@Russell Brazil yes I have won one specific performance suit.. but vastly different set of circumstances.the seller was losing the property and needed 40k to cure the tax ( property tax) default or they were going to lose it .In Oregon its the only state I personally know were property lost for non payment of property tax's escheats to the state.. no public auction no overage no right of redemption other than the county commissioners can over turn it down the road.. that all said there was no time to do a formal escrow so I did a Purchase and sale contract.. gave the seller 5k of non refundable EM and handed it to her.. 

Judicial redemption was created to solve the problem of someone being ejected when they did not even know a tax sale had taken place.

I am not looking for additional employment...just investment opportunities... but would prefer to not have to get formal permission

You'll certainly want to avoid that by working with her if it comes to that, but you need to know now what it will cost to file for foreclosure (non-judicial in MI, right?)

Granted it's not formally approved yet, but the code has provisions for the change of use given the age of the structure (over 50-years old) - it's grandfathered in.  

Where we are nowAfter sorting it all out over the last 6 months, Bob's kids agreed to start paying again and to formalize the partnership.