The risk of the business is on you and whether you have the expertise to pick the right asset, in the right location, and operate it properly.

Give them proper notice and get them out2. 

Proper structuring with professional guidance is key to achieving both parties' goals.This post does not create a CPA-Client relationship.

—and work with an accountant to make sure everything is properly documented.As long as your primary goal is to sell the property after renovating, your profits won’t be taxed like long-term rental income.

You want to properly classify transactions such as Contributions/distributions if they are between the entity and the owner itself.If the entities are not direct owners, you have have a Due to / Due From to properly keep track of money owed between the entities.Best of luck!

Construction i completely understand it runs in my family. money is not a issue for me is getting the proper knowledge in this field so I do not fail.

Seeing as how I'm not sure if you are communicating this properly, but one could be crossing ethical / legal boundaries --- maybe.Personally, the rental activity for that sort of property and tenant would not be worth the time.Thanks for letting us know. 

We recently had an ESA Great Dane (with all the proper ESA documentation) that bit another resident. 

Try to figure our what strategy would suite your lifestyle and goals (there's SO many ways to do it!).

Failing to follow proper procedures will cause even more delays.