As such, the interest would be paid to us and would have to be claimed.Others are telling me that if I simply have the insurance company deposit the cash directly into the LLC bank account for the loan, then I treat it as such, then the interest paid is deductible without claiming it on my personal side, because the interest was paid to the insurance company...not to me.Any information on this would be greatly appreciated.

You can then deposit them at the right time. 

The bank will pay attention to where the money came from though, so if you need to split the downpayment, you may want to get that money deposited (or "gifted") to your partner well ahead of time. 

I haven't looked at how to deposit those - I don't like mobile deposits.There are many free resources to use before you start paying for services.

So you’re selling a paid off $700k NET (after all selling costs you will deposit $700k with the QI) and you’re buying a property that will cost you $700k net (mostly list price but a few added costs)?

This ties into the saying that it is better to wait for a qualified applicant rather than fill the unit with anyone who is interested that has the deposit and first month's rent.

My question; the current market being what it is.. has made it very difficult to find a duplex and to match offers.

Family member wants to sell a property no longer needed and put all of it into our STR ($600k).I'm not sure how to structure the calculations on what a fair split would be after my family member deposits the extra $600k towards the mortgage.

Cash purchases should be avoided, you will loose credibility with your partner.A cash withdrawal from the company account might be broken out for small supply purchases, for example, or copying a key, but each purchase must be verified with the receipt; receipts will match the total cash withdrawal.  

Also wondering what I should deduct from the deposit since the countertop isn’t new, however, it was immaculate when the tenant moved in.Any advice welcome.