Here in CO there's an additional license required if you're soliciting money from individuals then loan it to others or even just brokering the loans.

I've been in a similar situation and found a few great options that integrate with QuickBooks Online:Stessa: Seamless integration with QuickBooks, real-time visibility, plus historical P&L, cash flow, and return on equity.

It depends if you have a lien on title already (a mortgage or hard money loan), but I would either do this as a hard money refinance or a DSCR cash-out refinance to pay for the reno. 

I have asked, begged and yelled about the safety situation and he just doesn’t care.

Loan consultants also needed.

This situation is why I don't like the rent by room model and wouldn't use it myself, but some people are very successful at running harmonious co-living arrangements. 

The question becomes, in that situation, is there any accommodation that can be made so that you don't lose coverage.

You can have a candid conversation with him to review your financial situation to determine Nathan Green's #2 point about getting your finances in order to be ready to purchase your next investment property regardless of your exit strategy.

Tutorials  emphasize the need to do due diligence on all the following:--check for taxes and liens against the property--find out which taxes and liens, if any, will remain attached to the property--make sure it is a buildable lot--to do above, you need to establish how the lot is classified for code purposes, and access the lot specifications, minimums the lot must meet for construction to be allowed--you further need to find out what its sewage situation is because 1) municipalities have different lot minimum specification for lots with public sewage and lots with septic; and 2) if the lot will require the construction of a septic tank, you need to take that into account in your decision.

Additionally, if you got a loan on top of your cash advance (say, you only had enough cash for a down payment) then I imagine you're also paying loan fees twice.This may all be fine and dandy if the numbers work, but is this a viable plan or a total gamble?