You could look into syndication, however even that will require a significant upfront investment in legal and marketing fees.Good luck!

This is especially true if the property requires significant upkeep or if the heirs live far away.Owners of Distressed PropertiesSellers who own homes in poor condition and can't afford the necessary repairs may prefer to sell as-is rather than invest time and money into renovations.Landlords with Problematic TenantsLandlords who have been dealing with problematic tenants, frequent vacancies, or costly property damage might want to offload the property quickly to cut their losses and avoid further hassles.Owners Facing Major Life ChangesSignificant life changes, such as health issues, retirement, or downsizing, can motivate people to sell their property quickly.

A fund (like a 506c) that @Chris Seveney and @Evan Polaski pointed out allows you to pool resources and spread risk across several projects.Def more attractive for investors.Pro tip: SEC exemption might be required so make sure you know your sh it and value prop here.

No LLC Needed: This keeps things simpler and avoids the state income tax associated with forming an LLC in Tennessee.Steps to Set Up Tenancy in Common:Purchase the Property: When you buy the property, instruct the closing agent or attorney to list both of you on the deed as tenants in common.Draft an Agreement: While it’s not legally required, it’s smart to have a written agreement detailing each partner’s responsibilities, the split of profits, and how decisions will be made.

All of these are expenses that you must cover as the owner, or deferred maintenance will build up and your property will deteriorate. 

Banks are required to offer you all options that are possible and in your case, it's a short sale.

Assisted living - for those that may have medical conditions that require them to have assistance.

Assuming they passed all requirements for the deductions, what's the chance of an audit?

This will require the least amount of capital for your to get in the game and get the best of both worlds.

I have some work needing done that requires permits and the contractors aren't licensed in the city where the permit is needed.