If you don't have any credit yet (car loan, credit card, etc) a good place to start is getting a secured credit card with your bank, which should help you start building a credit report and score.

If the Line of Credit is secured against a piece of real estate that would help in most most cases. 

I just became a pro member a day or 2 ago and watched the webinar on multi families (I know there is more out there on the subject I've listened to Crushing it in apartments and commercial real estate by Brian Murray around 5 times now) but I just don't know if I'm suppose to go secure my finances first or look for a deal first.

I will be installing new security cameras around the area but that will only capture what has happened. 

The income is taxed as interest, which means ordinary rates but no self-employment (Social Security/Medicare) tax.

Since as disqualified person you are not allowed to provide a personal guarantee for a loan to your IRA you may not use conventional loan, you must utilize non-recourse loan (meaning the lender has no recourse against you personally, property is the only security for the loan).

If you get a judgement I hear you can take money out of her security deposit  :-)

We have a flip property that we close on this Friday.ARV (by Subject To Repair Appraisal) = $440KPurchase Price = $230KRepair Estimate = $100K We have secured private money to take the property down @ 10% and no points, but this is the first time that we have used this investor and when we met him and his wife for lunch today, he asked if we would be supplying the cash for the repairs.  

I can suggest Gateway Mortgage (they have a wide variety of lending options).

Having the buddy live in it fills a need for onsite security for it, and to have someone who can help with the rehab without having to be an employee.