Essentially my idea would be to sell 1/2 my interest, pay off the existing loan, and be "partners" with this person as long as there is a defined exit strategy. 

Looking for advice.  I am looking to invest in PA.  However, getting loans under LLC is very hard in PA.  As a result, seeking option to purchase the property with 20% down with a FHA loan.  Getting the mortgage under...

He left behind some personal items and took a few of ours (it was partially furnished). 

As far as I am aware you can rent by the room in phoenix, I am not aware of any unrelated persons ordinances but you can check with your municipality they are usually starting at > 3 people that is what I believe would limit rent by the room.

Here are some common financing options:Traditional Mortgage: Obtain financing from banks with a down payment, paying off over time with interest.Hard Money Loans: Short-term loans with higher interest rates, often from private investors, suitable for quick acquisitions or credit-challenged investors.Private Money Lenders: Individuals or groups offering direct loans, with terms negotiated privately.Seller Financing: Buyers make payments directly to sellers over an agreed period, with terms negotiated between parties.Home Equity Line of Credit (HELOC): Borrow against existing property equity with a revolving credit line, typically offering flexibility.Real Estate Crowdfunding: Pool funds with other investors via online platforms for various real estate projects, offering diverse investment opportunities.1031 Exchange: Defer capital gains taxes by reinvesting sale proceeds into similar properties within a specific timeframe, useful for tax optimization.REITs (Real Estate Investment Trusts): Invest indirectly in real estate through publicly traded companies, offering liquidity and diversification.Joint Ventures/Partnerships: Collaborate with other investors to share resources and risks, leveraging each other's strengths for larger projects.Subject To Financing: Buy a property subject to the existing mortgage that's in place on the property (doesn't get paid off when the property sells).Assumable Mortgage: Buy a property and assume the mortgage that the seller already has in place.Lease Option: Rent a property with the option to buy it prior to a later date.Debt Service Credit Ratio (DSCR): A loan approved based on the income potential of the propertyThese options cater to different investor needs, preferences, and financial situations, providing flexibility in real estate investment strategies.Thanks,

If in-person, where are you located?

I am a Real Estate Agent and investor based in Columbus but I personally grew up in Cleveland. 

I personally have bought notes from two different HMLs on BP, and have had all interest paid, and all capital returned on loans that have reached maturity so far. 

I am wanting to purchase land and build a small cabin to STR (& personal use) in the North GA Market. 

I would appreciate any advice on the vetting processes you used to help find the right person to start your journey with.