Ideally she would pony up the new SD and you would return the apartment SD per your state laws.

Remove silly laws like putting a sign on your property stating that it is vacant and registering your property (and paying a fee) as a rental EVERY year regardless of whether or not it's the same tenant for the last 10 years.4.

I picked up the next 2 about 5 years ago when my father in law and my grandmother passed a way and I took up what they owed.

For outside asset protection our law team recommended an S-corp be formed to stand as general partner and investor(s) as limited parteners.

Hello JohnMy understanding is that the LLC will provide you better protection from things such as law suits, etc.Many of my clients have mortgages in their personal name and then transfer title to their wholly owned LLC.

It's best to check with each states licensing law though.3.

They will be strictly funding partners.

As to pre-payment penalties, you need to check state laws concerning residential or private financing transactions.

Welcome Chris, My sister and brother in law live in New Orleans and love it.

However, he would have to follow the state's landlord/tenant laws as far as any rental agreement in place.