I will find a active rehabber I TRUST and try to split deal with him. and you guys split payments and work. 

He can help you evaluate the deal, you put in your share and split the proceeds 50/50.

Welcome from Round Rock!

You can structure the JV however you like 50/50 profit split, or a fixed rate of return.

That separate investment property only has a 1st mortgage at 40% LTV with two years of rock solid, provable rental income.

Not a CPA but wouldn't the $22k profit be split more like 50/50 between salary and dividend thus $11k taxed at the higher rate of 38%?

I have not seen a contract for this type of loan before but from the way it is advertised it appears the loans can be used for real estate investing as well.So I should have asked this question in my original post: So I know that you can buy a multifamily and legally live in one unit and rent out the others; is it different if the property is split under two different loans and the owner of the one property lives in the one side that is not on the loan he/she has in his/her name?

Is there any way you can find a partner that would finance it and the both of you split profits (depending on equity), or keep as a rental for a period of time? 

Perhaps a few grand to move and splitting the equity once the property is sold would get her moving?

I grew up in Rock Hill.Account Closed  I've read a lot of that stuff, but thanks for the tips, especially about the multi family HUD idea, I had never thought about that!