To clarify @Jason Wray's response, monies pulled out of an exchange are called "boot" and you pay taxes on them. 

The tenants are not responsive and I have found out that it is a waiting period.

Thank you for the response! 

Should I put the company name in the lease as "Lessee" and the president of the company as a cosigner (after running his credit/background)? 

What you get from me is honest, no BS, reality check advice and tips to help you not just buy a property, but set you up for future success if you are wanting to scale this into something bigger.

So you're essentially saying the roofer has no negative consequences for his bad, the city inspector doesn't have an negative consequences...and you have to pay someone to fix this issue?

I can give you his contact if any of you guys want it.

Originally, we planned for me to handle the down payment with my HELOC, and my partner would pay me 50% of the HELOC payment each month while getting his own mortgage for the rest (75% of the purchase price).But it turns out he couldn't snag a mortgage for the full amount.

Some tips:1.

Hello my name is Ben and I'm  newly married man planning for his future.