Determine if the 2 units+ your income could service the debt until you find another renter.

One minute she is the nicest person imaginable the next minute she is evil.I heard there is something called non forceablility of verbal agreements and I have also done some additional digging and am reading the followingverbal agreements are not acceptable or legal in real estate transactions.

Ive sent the debt before to collection agencies that keep 50% if recovered, and Ive never seen a dime. 

You do not need a legal entity to have a business, from a tax perspective, only revenue.

Get an attorney or two or a preferred law office to handle all the legal stuff to make sure your golden on any syndication law and making sure the funds are handled correctly. 

Obviously, consult with a qualified CPA to make sure you are doing everything legally, and only take the losses you can take per the tax code.

Competent legal advice is required for this type of financing.Lenders of this type of asset will want to see some type of feasibility study that indicates that another operating motel in the market place will be successful against the existing competition and that you the operator of the motel has the background to run the business.

The chimney company refused my refund, stating that they would take legal action against me if I were to dispute the credit card transaction.

Would appreciate some legal advice!

So now we have about $90k debt on $425k worth of assets and I can't find a lender who isn't offering us outrageous terms.