get it surveyed and yes that is independent of an inspection or an appraisal. they'll locate the old markers or put new ones in to define the property lines/boundaries.

If you have to put more money into the property for renovations or something, define how that will be split.

In order to answer the question it must first be determined how HID defines primary residence..

Now, it is true that you cannot receive a "conforming" or "conventional" loan with an LLC (and I'm defining conventional as a loan that comes from Fannie Mae and Freddie Mac). 

If you don't follow a defined process in getting it financed, you may be stuck waiting for months before getting your money back out. 

In VA:CONDITION: The owner(s) of the residential real property makes no representations or warranties as to the condition of the real property or any improvements thereon, or with regard to any covenants and restrictions, or any conveyances of mineral rights, as may be recorded among the land records affecting the real property or any improvements thereon, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary including obtaining a home inspection, as defined in § 54.1-500, a mold assessment conducted by a business that follows the guidelines provided by the U.S.

My recommendation is to start by clearly defining your objecitves and criteria which will then lead you to markets that best fit your goals.

Then you and the two partners invest in the deal x amount and have an LLC operating agreement that defines ownership interest.Mixing the two together can get very complex especially if the deal goes south or if there were ever issues with the work.

Not sure but probably there is no need to define a clear line.

When it comes to evaluating the market that we are interested in, it is important to define what market are we talking about?