Hello everyone, Long story short...1.1 million dollar property, considered single family unit, two separate units, 1 garage 1st individual invested $437,000; average credit2nd individual invested $70,000; excellent creditTogether, they split the mortgage and other expenses (property tax, insurance, etc...) 50/50 How would you properly prepare a T.I.C. for this kind of scenario?

We are looking for an individual that is a licensed real estate broker in the state of Minnesota, living near the Minneapolis area.

I suspect two things are happening here: 1) Hotels are lobbying hard to squeeze VR's in this time of crisis and 2) the Governor made a calculated gamble that STR's are many small fish who, individually, are unlikely to sue while Hotels would certainly do so. 

I'm sure there's a way -just like for any individual interested in the property- to get in position to acquire it.Seems like I'd be smart to talk to an RE atty.

I wanted your opinion if you would feel comfortable  renting 2 rooms to 2 individuals during the Covid-19 pandemic ?  

If you have used somebody you trust or are such an individual/professional, please get in touch.

I would consider buying at as much of a discount as you can, in a good location ( not on a busy street, not near any "yeah buts" as MeetKevin would say, stable neighborhood, fixed long term financing4) South of Blvd has always had higher desirability, but if you find a good value, there are many great neighborhoods north of the blvd.5) I'm not a CPA, generally you pay taxes when you sell & if it's a primary residence there are large exclusions ($250k each individual owner) 

Ive wondered how some individuals without a SSN get places and why the landlords would accept.

You cannot record two loans simultaneously, however, you can have several lenders on one loan if it’s fractionalized.If legal in the state you obtain the loan, a fractionalized loan will allow several individuals to participate in one first position loan.

If you go that route, make sure to run all banking activity through the LLC, and not individual partner names.