Partnership Income and Expense (As an agent)

[Drew Kimminau]

Hi everyone, so I have a partnership question. 

For the background information, I am in a partnership with my parents for buy and hold investment properties. I just recently got my sales agent licence because I want to represent us when buying and selling properties. So far I have been expensing  my education cost, application fees, and other association fees to the partnership. I plan on either taking no commission when buying and selling or just having the commission go straight into the partnership account. I assume we will just treat this as ordinary income for the company and split it according to our by laws at the end of the year with our individual K-1s.

My questions is , does this sound accurate? Does anyone have a better idea?

Also If for some reason I end up buying/selling a home outside the partnership or representing someone as an agent other than the partnership, is it okay for me to take that income as my own? Or if I continue to run my association fees through the partnership, will I need to run that "other income" through the partnership as well? 

Any advise is helpful...Thanks