You should consult a lawyer in your jurisdiction (and only 'you' should go to the consult, not all three of you.

Please consult a tax professional for how to report your investments.I keep accounting records on software like quickbooks or Xero and I know every month about how much my tax bill is so I make estimated tax payments monthly instead of quarterly (just easier for me that way).

The best way to approach this is to consult with a local Landlord/Tenant attorney that can better advise you on all the legal ramifications of each the proposed courses of action, or if it is even legal in the first place based on local or municipal law.

Two things for you to remember when doing a 203k loan.1) YOU are the boss2) YOU are the bossYou are the lender's boss, you are the contractor's boss, you are the consultant's boss for a while in the process.

They say you are the company you keep! I'm hopeful that's the case with my new friends within the BiggerPockets community. I'm interested in networking with other REI in my immediate area and abroad who have had long ...

Rick Girgis at Equitable Consulting is truly an investor's loan officer and a real professional.

I also own and broker/consult on wireless assets (tower portfolios and ground lease assets) around the country.  

Please consult an adviser in your state.

Please consult an adviser in your state.

But the very first step into being a private lender or any business venture you start is to seek legal consultation.