The whole purpose of this document is to get you all to sit down together and work out how you are going to protect your familial relationships when you are in business.

In case it didn't work out like that, I have some suggestions.

The HELOC now puts your primary residence on the line should things go south and not work out.

@Joe S. sorry that partnership didn't work out.

The son is the o lay one the lender will talk to/deal with.Usually a short sale on these, at 95% of current value don’t work out to be a deal, as the appraisal usually doesn’t consider enough of the costs to bring to full value.We don’t know what kind of “title issues” you are referring to....that would determine any additional obstacles.

Do you have more options for PM companies if that one doesnt work out? 

In that case yes all work would need to be done through a licensed contractor unless you can work out something where they allow you to do some work.

Our delinquency and eviction rates have remained low do to the intense screening process!

that way you build a little rapport with that bank, show your cash "lender" your intensions on how to pay them back, and also know exactly how good of a deal you have from the start.

Bought this property site unseen and while it did work out well i will avoid doing this in the future.