Unless of course you have some amazing partnership written agreement that had took all little details in consideration and you know for sure that you getting $24,000 returned to you no matter what happens.Her RE license is not at risk because it's a business transaction with you in partnership and business goes bad sometimes. 

Check with lenders directly for details on the programs they offer.

I won't bore or gross you out with details but if you run a tight ship then you should be making good money.

@Robert Herrera Can you go into more detail on how you finance these properties?

For a little more detail...When I say the house is nicer than its surroundings, I mean that the bones, floorplan, and layout were all originally GREAT, but the cosmetics were in bad shape.

If he says that would be best, you can transfer title to LLC (most likely).The reason I say that is because so many people get caught up on the small details like forming an LLC.

Of course, the devil is in the details.

I'm 99% sure that "length of residence" actually means "length of ownership" in listsource.For them to know actual length of residence vs. ownership they'd have to have quite detailed rental data, and there is no indication that they do.

Just detailed expense and income through Quickbooks? 

I will post something more in detail on the technique some time later on my YouTube channel or I'll write a blog on it here at Bigger Pockets.