My father in law has agreed to use a line of credit that is already set up to buy a property. As of now he doesn't want to take an active part in real estate. The deal we have been contemplating is a 4 plex that we should be to get under market, put some money into each unit to get it updated and get some tenants in there and eventually refinance to pull cash out to pay him back. The question I keep coming back to is how I structure this. If its his line of credit, I am assuming I can not purchase the property directly? If I can not purchase the property directly how do I get the property into my name in order to refinance. I have contemplated starting a LLC with him in hopes that it would be an easier transition but LLC equals commercial loan. The banks that I have talked to about commercial loans require a 12 month seasoning and currently a 20 year amortization rate over 5 years which make the payments pretty steep. Anyone had a similar situation and found a solution that worked for them. Thanks