I'm working with a guy that purchase a primary residence.  Instead of taking out a 203k loan or even an FHA loan he put 20% down.  He was under the assumption he would be able to take out the rehab costs at the end of...

We do own a house in Colorado and have rented it out for the past four years while we are trying to pay it off. 

My nephew (Denver, CO) just did his first turnkey deal in Quad Cities, Iowa with the Jason Hartman properties organization.

I have already been informed (on BP) that I can probably get a sub-prime loan, or get a mortgage with one of my parents co-signing.

Just give your private lender a note and 1st deed of trust like a normal bank would get.Your or any quality title co can help with this and refer you to an attorney in their network that does them all the time.

I'm looking for a reference for a company or broker that will insure my properties in three different states (IL, CO, CA).  

If the disabled adult needs a legal guardian, he legally can't enter into any contract by himself, he needs the guardian to sign the lease as such, you should get a copy of his guardian ship paperwork.He would be listed on the lease as a tenant c/o Guardian __________name.Financials were usually guaranteed by guardian and income was per disabled adult to qualify.

You don't need an attorney in Colorado.

The idea was to have him be the co-signer/co-borrower, not sole borrower. 

You need a different CPA.. he want you to change your legal structure so "financial reporting" is less of a headache... financial reporting is what you are paying him to do for you..Two other points:I am sure that the bank will not care who is on the LLC if your wife co-signs the loan.The point of an LLC is liability protection, it does not matter if it is sole member or multi, as long as you keep it separate you are okThird bonus point: if you file jointly, the change will not effect your taxes.