I don’t think there are any going to be many comps because it’s a small village (only around 1000 people) and I doubt there are other 4-plex properties.

I doubt that would be allowed in Illinois either because if they allowed it, you will have attorney investors passing liens back and forth to rack up effectively unlimited fees.Perhaps you are talking about legal fees already accrued by the prior investor?

If both of your names are on the deed and you want to sell and buy something else in the future, then you would have to buy with your partner for 1031 exchange purposes (which means that if you have a falling out with your partner then I doubt you'd want to invest in something else with them in the future). 3) If you can't apply for a loan under two LLCs, then just apply for loan together (just make sure you trust your partner).

I doubt I will hear back from any of them.

I doubt anyone will give you $0 down, and like Jim said you’re looking at a commercial loan. 

Agree heavily, but I doubt anything will ever be done regarding CC debt, unfortunately.

About five years ago one of the previous owners had put a new roof on the barn but most of the corners of the building are rotten and the cement slab has cracked and heaved up in a section.

And given your life to date I doubt if moving every once in a while just to take profit tax free is too big of a hardship.Pay cash for your primary and then put a no cost heloc on it from one of the big banks.  80% at prime or a little less with no costs is a screaming deal now. 

So, if you are concerned about the law, Idaho Code §74-120, then I highly recommend checking to see whether there has ever been anyone prosecuted for violating that law (doubtful).

We all had our doubts as this rate was unbelievably low.