I’ve been researching businesses for sale and many look profitable on paper.

there is a judgement my name would be on record - for a longtime - even though this was a business dealing and not a personal deal.In my case, I own my properties in my name and self-manage my properties with a Single member LLC.,  and I am thinking of using the LLC name as the "Landlord".

I quizzed a few lenders and they said none of the conventional type loans they have made in recent times allow for this.

I am looking to put some sweat equity into a colleagues development portion of his business.

To make a really long story short, I have just completed a Short-Sale of a single-family home a business partner and I built in Horseshoe Bay, Texas, right outside of Austin, Texas.Our Operating Agreement states that we are to split 50%/50% of all expenses within the business and treat any unexpected monies due as loans and paid back equally amongst the partners.

There are companies that sell turn-key rentals that could be a great solution for a busy professional, or maybe finding a reputable wholesaling company or realtor to help bring you deals to leverage your time better. 

I marketed this property as a business - as it brought in 155K in gross revenues , could go to 180K with some extra work.I see many people who got into the airbnb game 3 years ago trying to unload now, almost at cost.

Not to discourage you further, but CA has so many little intricate details to running a business with lots of extra taxes or fees.

Assuming that you can somehow provide the guests a private bathroom I can see this working with an outdoor cooktop if the jurisdiction allows you to STR a bedroom.  

Every city and state that even allows STR to continue will reach out with taxes.