This is considered "loan proceeds", and as such isn't taxable - except maybe in certain odd "alternative minimum tax" scenarios.

So, we're approaching this from the POV that seller financing is not an option.Do any of you have any suggestions for where we could find investors and/or financing and any suggestions what options/alternatives we should look into?

., then maybe find an alternative to renting out a room.

Rather than just saying "no frat houses", they came up with this alternative that does not discriminate, and by having it under zoning (usually zoning definition for "single family") it is limited to being very local (thus less likely to get challenged).

Sam Miller , the LLC is important when you have partners because you need to separate yourself, your partner, and the property.The alternative to owning with partners within an LLC is for you both to go on title as tenants in common.

Based on that info, we might be able to suggest a better alternative.

Also if after you search the site for a filing name you can apply for a name but there is no place on the form to put alternate names if yours is taken or indistinguishable from another LLC.

Obviously I know they would rather the owner sell the house out right, but if there isn't enough equity for them to find a buyer and their only other alternative is to continue to miss payments, get foreclosed on and cost the bank tens of thousands of dollars... wouldn't letting someone like me take over the mortgage be a good solution for the bank?

Alternatively, and also more inconveniently...would anyone recommend deferring these repairs until after the tenant takes possession?

I've never used it before, but it looks like a pretty great alternative to the 4x4 tiles.