I am unsure as to the foundation of the cottage, but the modular portion appears to have been a poured slab (approx. 5" deep) with concrete block skirting. 

It would be just as easy for your LLC to buy a portion of the new property and your partner to buy a portion of the new property as tenants in common.

On a positive note, I am going to share some vital advice my father taught me that might help you in the future:1.

Then, when inspector has approved your rent amount and inspected your unit to make sure it meets or exceeds minimum housing standards, they will tell you what portion of the $1500 the housing authority is going to pay and what portion the tenant will pay.

As a newbie your and other comments here have taught me that follow up is vitally important.

He also communicated via call and text that he would make "me whole" but can only send me a portion of what is owed this week.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.The Cost Segregation Study was performed on the Asset Depreciation Range (ADR) and is based on a 40% tax bracket for State and Federal Taxes.

Knowing what a specific repair will cost is one thing but knowing how to catch those issues before they become an issue is vital. 

While slightly more “boring”, with the amount of money you have to work with you could probably finance 4-6 $200,000 rentals and generate monthly income that could go a long way towards replacing / supplementing  a descent portion of your W2 income. 

Essentially, the seller has agreed to let you pay off a portion of the property over time, so as you pay down the loan, you’re increasing your equity stake in the property.