That is something you can always have done separately during you inspection.

Loan him the money separately to pay the bank and use a promissory note for that.

Chris,My pleasure to help1TIC (Tenancy In Common) is a type of business structure where the investment is co-owned by a several partners as if each owns a separate piece of investment that can be bought or sold on its own.

Once that’s done can I transfer ownership of Property C LLC to Blue Capital LLC so that way Blue Capital owns 100% and manager manages Property C LLC.I believe this structure will keep all assets separate and organised and maximise asset protection while minimising liabilities.Any comments or opinions please state below.

I am under contract for a 4 unit property with a lot of poorly allocated space from additions over the last century.Utilities are separated per unit already.One first floor unit has enough space for to be a 3bed/2bath or convert to 2 - 1 bedroom units4 unit ARV is $240k, $2800 gross rents5 unit would be $3400 gross rentsWhat other issues other than being forced to use commercial financing should I consider before making the conversion?

As in if I own 50% and you own 50%, do we each get a separate loan on 'our portion'?

Have a separate checking account, track your mileage, keep receipts for all associated expenses, etc.

For some reason, property managers who have stayed in the business for the long hall are pretty good at "qualifying/assessing" a tenant's character and are experts at separating the sketchy ones from the great ones

Keep your long term and short term assets legally separated.

Once that's done can I transfer ownership of Property C LLC to Blue Capital LLC so that way Blue Capital owns 100% and manager manages Property C LLC.I believe this structure will keep all assets separate and organised and maximise asset protection while minimising liabilities.Any comments or opinions please state below.