Hi,My wife and I have been working on a plan to turn investment properties into assisted living homes in Colorado.

I plan to do my first few flips locally but I'm always trying to look ahead and plan for my next move.

What’s your plan when the 1st comes and goes and they don’t pay rent?

It all comes down to the lender - you'll need to talk with the lender you plan to use. 

It’s a sole proprietorship.Wewe want to use her condo as a rentalFor tax purposes we plan to file separate every year because of her high student loans. 

The building doesn't work for what we are planning and we have too much on our plate to try and take this on right on.

I have a borrower that I've been trying to take care of in Missouri for a few weeks now and this could be the answer I've been looking for!

Keep the faith and take care of yourself.

Thank you @Benjamin Aaker this was the original plan I wanted to do that way I stay out of trouble.

The general issue with accepting a partial payment is that unless there is something in writing to the contrary it can be seen as evidence that a payment plan was made between you and the tenant.