On your primary residence you should be able to get a HELOC for up to 95% of the current value of your home, subject to DTI restrictions of course (typically 50%). 

If one person finances, how does that work legally about property ownership? 

No legal advice given

I didn't even think about the legality of it all.

It is better for them to get half the profits than no profits, and you gain invaluable experience as they take you through the process with them.DO NOT go half-cocked and mail without having an understanding of the legal requirements for your area for assignment contracts.

Here's the issue/question: I feel like I'm leaving a lot of money just sitting in this land.Does anyone know about the possibility or legality of fencing off a 1/4 to 1/2 acre of the land and putting a mobile home/ tiny home for rental use? 

The intent is to prove your poor business practices/ attitudes when in legal disputes with your tenants.  

If they have a weakness in residence/rental history, income/employment history, financial/credit history, or legal/criminal history, but generally meet all of your significant requirements, then collect more security deposit to cover your risk.You can download an example of our Rental Criteria, as well as Tenant Screening Questions, from the BP File Place if you're interested in seeing some examples.

Do not rely on it as legal advice.

Hello all,
I am new to the real estate investing world and I am considering the path of rental properties but one of my major concerns is the chance of lawsuits against the landlord. We all know accidents can happen ...