Especially if it was concrete work that is very hard and labor intensive, you also need to realise that if he is reframing the whole house you could have asked him not to remove so much of the concrete that was there and change your plans.

Would it be the most cost effective approach?

@Nicole Richards Many of the answers you are looking for can be found here: How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor596231-how-do-i-properly-construct-a-purchase-with-a-partnership591376-create-an-llc-for-first-partnership-best-way-to-do-so526244-taking-on-partner-s-and-limiting-our-liabilitesGood luck!

Now for the question: in the new tax law, effective Jan 1, 2018, I understand changes have gone into effect regarding the ability to deduct the interest of HELOCs.

I'm currently under contract for a 18-unit multifamily in NC. The seller has an on-site property manager in place receiving free rent for one unit + $1000/mo salary + another unit as an office. I plan to use a 3rd par...

I have many offers on the property @ $1600 and $1500 respectively that i'm sifting through.assuming they don't all fall through i'm in effectively for no money out of pocket and $3100 in cashflow - the mortgage which should be in the 2k range after the refinance.  

The federal lifetime gift limit is 5.5mm so we would just add/remove members on the LLC instead.

If you do not vacate the premises by that date, I will ask the court for an order allowing me to remove you and your belongings from the premises.

Due to removing the orig, wood windows, casing, door jambs, the plan turned into removing all the plaster walls on the 1st floor and insulating and drywalling.

One more thing to consider with a HELOC that could have effect on the deal you are trying to use it for.