Do not rely on it for legal advice.

I would find a JV form on here and agree to terms and then spend a few hundered dollars getting a lawyer to do make it official and legal for your state.

2) What are the pros and cons of designating the home a second home versus an investment property?

The engineers' opinion initially should speak to the severity of the issue.I'd break down an engineering engagement into 2 parts:First would be an initial visit and rendering an opinion on the severity and possible approaches in design to remedy.2nd would be the actual design and cost opinion(s) to remedy.If you're pretty serious about the house, I think if you pay the $250-500 that I think you'd likely need to do the first, that would be a GREAT investment more than likely from what you're describing. 

How do I get the money LEGALLY?

I have a question about who pays for damages discovered after a sale. I purchased a condo to use as a STR and the day after the sale was finalized we were advised that the dishwasher has been leaking for days, there i...

I am not a lawyer and this is not legal advice.

4) Are there any other legal or operational issues that I need to be thinking about before making a decision?

So what is the legal amount of time that the tenants get to stay in the house when they are given a notice? 

Hi BP,I am seeking any resources (books, websites, software, etc) to help educate myself on home design and renovations - particularly those focusing on the exterior of homes.