I now have to give this tenant a 30 day notice of non-renewal.The unfortunate part is this tenant had to move out all their belongings by January 31st in Nebraska, which if you didn't know we get lots of snow at this time.

You would take title to 50% of the property as a tenant in common and the other party would put more down than you. 

No different than I would want to see if you were only hiring third party contractors.

If you are taking a loan from your cash value from the insurance company, it may not be deductible, even if the proceeds are used for investment.On the other hand, if you use a third party lender issuing a loan using the cash value as collateral, it appears that you can deduct the interest as investment expense.

The difference in price between the existing mortgage and the purchase amount is made up by the seller carrying a subordinate lien or a private party carrying a second lien, or a partner being given a percentage ownership for providing the down payment.The second way to accomplish a true nothing down deal is to find a private lender that will lend 50-60% LTV and does not require the borrower to contribute capital, with the difference being made up by the seller carrying subordinate financing.Finally, a nothing down deal can be accomplished if the seller is willing to carrying a note for the full purchase price.

You don't state the "issues", but with the economy tightening there are all kinds of people in trouble financially looking to move in with friends - not necessarily a bad thing, but all parties should go into the situation with their eyes open.

If the tenant made an agreement to pay xyz corporation and you tell him to pay parties x, y and z in separate checks I am not sure how that would hold up as an eviction when he only pay x.Set the rent up so he pays one entity and you all are paid from that account.

perhaps the party with the child was not qualifiable.Maybe the new listing specified a BR + an office.Could there be rules that an owner occupied triplex does can be more selective than larger multi families

I couldn't imagine why a residential or a commercial lease would not work, as long as all of the requirements for both parties are satisfied.The residential lease may be simpler, but it may not cover everything you need.

For things over 50k it is prudent to hire a third party claims adjuster.