If he cannot explain the reasoning behind the position, seek a second professional opinion.If the reason to setup an S corp is to deduct your unreimbursed employee business expenses for your full-time job, that is likely wrong (I don't have all of the facts) and would not hold up under audit.

Thanks for your feedback, much appreciated.

I think it's very easy to find yourself in a poor position (on either side, as a GC or investor) when contracts aren't clear.

., @Daniel Dawson and @Ariel Nixon for your feedback!

My wife and I find ourselves in a position that we have a home valued at 400k.With an outstanding mortgage of 145kCurrently my wife’s parents are on the loan but have no interest in the equity.We are considering a cash out refi and using 100k to put down on another home in the future and then renting this home out.  

My friend is in a similar position and has a great relationship with the landlord. 

Definitely appreciate feedback, and referrals on a good realtor - going to need one eIther way

I am looking for a job or internship of some sort and don't really know what positions are out there that will help me learn.

If you are well positioned, you will not need to sell for a huge discount.

They don't usually lend to people that are going to occupy the property.You also don't want to be in a position paying 15% interest.Are there out there?