It's great to have the business protection, but depending on what state you're in and how much it costs, you may want to see if real estate investing is really for you first.  

Just depends on what you want to invest in.

Answers to your question would be highly dependent on whether or not you plan to continue buying more rentals, continue flipping, etc.  

Investing in a REIT will give you a lower rate of return than a well bought multiunit - house hacking is the easiest way to get in with that amount of capital - otherwise, you need more than that for the down payment - depending on prices in your area.

It depends a lot on how much that initial rehab is. $5K on a 4plex isn't very much at all.

Howdy @Aaron JonesIt depends on a number of things.  

The loan origination fee itself can come to around $2k depending on your HM lender.

So I guess it all depends on how the business is structured. 

Personal guaranty really depends on relationship with bank and secondarily, your net worth.

Then he will sell and complete his purchase.You've got several options depending on his attitude and comfort level.1.