I have only been using the bank accounts to pay business/property bills and pay down related debts, he has been using the business bank account for anything and everything from purchasing vehicles to other personal non related investments.

Thanks Jason.I personally don't want to have any liability on my primary residence (Apart from Property tax of-course).That's the reason I am looking to do this is to ensure that if I am secure.

If he agrees to let the other person move in, make sure you put that in writing and have it signed by all parties.

Setting a reserve price and then having an open house the day of the auction to accept bids and hopefully find a direct buyer. 

Hello,My buddy and I are considering purchasing a house with the intention of renting it to SUNY Cortland students.

The person I spoke with excited me about the possibilities; however, when it came time to deliver our XML file of properties, they quit responding, much like ShowMojo, making me think that they were not yet live.

Are you referring to the crazy law where if you buy a property from a deceased person (we have had this happen via foreclosure) that you (even if you were the lender) are responsible for inheritence tax. 

If anyone is interested or knows a person who is, it will help a lot! 

Also, should it be a separate LLC for each house?

This would be a house hack.The property was purchased in April of last year for $155,000.