If you want a "reasonably" fast way to straighten that out, you have to "connect" by clicking the name of the person you wish to speak to.

And it depends on the person, but yeah, most will be over 10% these days. 

@Quiche LynnI think your confusing the term noteThe note is a promissory note - meaning the document that she signed stating she will pay this person this much money.What it sounds like is she wants to send a settlement offer to try and renegotiate the deal?

Regarding taxes, I believe LLCs are pass-through entities, and you will just claim the income on your personal tax returns.

As of right now me, my partner , and one other person is moving in but, I need to find a way to fill in the other 2 bedrooms.

No personal income, tax returns or DTI to worry about.

No "headaches" except for risk of near total loss of principle unless I put more money in...I'll take the risk of a project that I need to complete personally in exchange for a near-perfect risk/reward profile and complete understanding of the investment.

By the time you pay realtor commissions and closing costs I doubt if you'll have made much money over only a few months. 

Keeping your building expenses separate from your personal finances can make it a lot easier. 

Hard for a person to imagine living there.