AC issues are urgent....but rarely emergency situations.... there is a BIG difference.The "someone could die" is a pretty extreme scenario....... the only people that are truly at risk are the very elderly or young that aren't capable of taking some basic precautionary measures.

If they are investing with you, you could form a partnership for each deal, where you serve as general partner and control day-to-day operations while your limited partners (investors) provide the capital. 

Kathryn -  obtaining a loan through a lender  will normally require  2 years of  history of  consistent  positive income …...so if the plan is to use this  method of  financing  - keeping  the job is beneficial …..if you plan to use the more creative methods of  financing deals - then this issue isn't quite as important  the other lender issue to be aware of is that many lenders  have a limit on the  #s of properties  with financing an applicant  has in their name …...some cap at  7  ...some cap at  10 ...some may not any cap

Space - I have measured the space and it comes a bit north of 500 sq ft.

@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!

@Jim Adrian thanks for mentioning the ADA design - the good news is the paved access pathways are pretty good although he'll need to measure for width but everything commercial is on the first floor and pretty wide open.

Everyone has a past, and everyone has their limits of what they will/won't accept.    

Depending on the pocket of the city the house is in, appreciation might be limited, but the cashflow is substantial. 

Just make sure to check with your local utility first so they can still get access and approve the added security measure.

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