Of course, I'm quarantined and have tons of time to waste. 

However, Person B agrees to manage the property until ~year 3, when person A + B jointly refinance.Additionally person A + B will enter into an operating agreement which binds both parties to these conditions and offers 50/50 equity in property.How do we structure this legally while minimizing the liability, in absence of a LLC.Side question:Are there different lending rates between a LLC and an individual?

Want and ability are two very different things, sort out which this is before you waste a ton of time on details and logistics.A tenant that wants to buy a $300k house for $150k is not worth your time ironing out all the details, once they show you a preapproval letter for what you are willing to sell for then you can figure out the rest.

I am paying “cost” meaning builder level cost for material and minimal average labor costs with no profit for the builder of record.

Illinois has lots of problems, but for most investors it is a waste of time to drive two or three hours when you are located in the third largest MSA in the United States.

My goal is to try to minimize locations while keeping a 10-12 percent CoC return in the San Antonio area.More generally though, I've been looking at going into multi-family housing more as, again, it would reduce the amount of locations I have to manage, at least in the short-medium term.

They give big bucks to corporations with large headcount instead of "wasting" their time with smaller LLCs or even self-employed.

If you like to spin your wheels and waste your money, you can go after the seller, otherwise, be happy it's finished now and move on.

Start eviction now so that when your area allows them again you waste no time.

You should set strict screening criteria for what you are looking for in a potential tenant to steer away those who would just be wasting your time.BiggerPockets has recommended screening companies right on their site that you should do some research on to see what company best fits your screening needs.