I would consider doing it if the terms were clear with your student and they had some level of skin in the game either financial or other type of responsibility.

We will still need to go the loan route, but it is nice to have some skin in the game to keep our investments more conservative.Forrest Faulconer 

Contributions into and out of an entity are not taxable events so your accountant can guide you.They may even let you purchase the new property in the 1031 as that new LLC if it is disregarded to your master LLC.There's several ways to skin that cat :)

Some of my Laundromat clients have added drop off/pickup service for Dry Cleaning and Wash & Fold services to increase their revenue. 

Your lender may want you to have some skin in the game too, so make sure to factor that in.As far as choosing between private or Hardmoney, preferably private money since it will be cheaper.

Given it was a dry season when he checked.

dont underestimate the 1. time it takes to get ANYTHING done in PR. add COVID to that and its next to impossible. 2. finding anyone reliable to work is also tough. 3. everyone has their hand out for money, although cash offer, San Juan will bleed you dry in fees. 4. you will need a lawyer to buy or sell anything to include a Kit Kat bar in PR. 

The plumbers took care of all the water leak and have dried the interior walls, but I now need to fix the holes in the walls and repaint the bedrooms. 

I have a construction background, and I've spent 2 years listening to bigger pockets, reading every scrap of literature I can find and tapping youtube dry.

@Justin Nahas There is a million ways to skin a cat.