We our currently structuring and creating a business plan to be prepared when he gets back.

If the house is in bad condition can I receive a 403k loan and use it to help finance a portion of the conversion or would I basically have to use it solely on fixing the structure as a 1 family unit? 

@Jay Hinrichs Im looking to House Hack (live in and rent) or try to purchase empty land for cheap and put a short term structure on it.

@Matt Maranz, actually if you are an LP investor in a GP structure then you don't own real estate. 

The "workmanship" that we're seeing, across the board, is nothing short of disgraceful - paint hiding rotten siding, vinyl flooring over rotten sub-floors, "new" shingle roofs over 2 old roofs where the structure can't support it, load-bearing walls removed with no structural replacement, even a swimming pool that was buried.  

I'm trying to structure a deal utilizing seller financing.

I also want to know the best way to structure our business.

I'm likely going to make an offer on a duplex, but am trying to figure out how to structure the offer for an owner carry contract.

If it gets caught they try to bribe or pay penalties which are peanuts n get structures authorized.

So this would be more of an equity-type structure, which is generally going to be more expensive than debt, or a typical private money lender.My question to everyone is how do I set it up so its a good deal for both of us?