Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Section 8: All the S8 “gurus” promote putting S8 tenants into this Class of cheap properties to “get rich”.

would love to connect. best of luck on your journey

What is the best way to structure the partnership?

If you are looking to pull more cash out I'd go with the second option.

And that's best case scenario.

I would suggest looking at commercial banks or credit unions in the area to see if this is available. 

Are you looking to flip or for long term?

This exemption is particularly beneficial for real estate investors, homeowners, and businesses looking to manage their tax obligations more effectively.How Does the ATI Exemption Work?

The property is mine and my brother's inheritance so I am looking at it as a long term investment.  

Granted, this may be what you're looking for in your ideal "retirement" but worth noting!