We provide a complete JV package, references and for any deal they are considering what I refer to as the "Investment Analysis Summary" document which details the specific note deal, timelines, costs and probable exist strategies.

However, their health issues may squeeze them financially.  

Unless of course you have some amazing partnership written agreement that had took all little details in consideration and you know for sure that you getting $24,000 returned to you no matter what happens.Her RE license is not at risk because it's a business transaction with you in partnership and business goes bad sometimes. 

Check with lenders directly for details on the programs they offer.

I won't bore or gross you out with details but if you run a tight ship then you should be making good money.

@Robert Herrera Can you go into more detail on how you finance these properties?

He’s been living down the street with a neighbor for over a year due to some health issues with mobility.

For a little more detail...When I say the house is nicer than its surroundings, I mean that the bones, floorplan, and layout were all originally GREAT, but the cosmetics were in bad shape.

If he says that would be best, you can transfer title to LLC (most likely).The reason I say that is because so many people get caught up on the small details like forming an LLC.

Of course, the devil is in the details.