Investopedia defines occupancy fraud as a scheme used by investors to qualify for higher loan-to-value ratios and lower out-of-pocket costs on purchases, in addition to lower mortgage rates.

Buying an older house (built in 1959) requires more replacement components than anticipated.

It would list all of the major components of a home, along with their estimated associated costs per unit.

It's a fun, hard to define (and unfalsifiable) word that is hard to challenge when the card is pulled.

That being said if you do decide to go the partnership route you want to make sure to clearly define everyones role, responsibilities, capital contributions, loan guarantor roles, decision making authority and exit from the partnership if someone wants out.

You've got a lot of variables going on here, and I think the first step is to clearly define your goals.

I’ve had very productive business arrangements purely online or phone, though those were pre-vetted by an affiliation with an institution.For the land deal, especially if it is a friend, have a clear operating agreement defining the financial relationship.

You are going to need to define what you mean by full home rehab? 

I want to make sure my in-laws are comfortable with their investment and that they have some legal right to the assets /liabilities of the business but not sure how to proceed.Should we look into adding them to the title or put the house in a family trust where the ownership is clearly defined?

FHA defines first-time homebuyer as "an individual who has not held ownership in a principal residence during the three-year period ending on the date of the purchase."