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Split Investment on a Commercial/Apartment Building
I have a Main Street property in a small western PA city. It has a commercial spot on the main floor and then 2 floors of apartments (they're currently undergoing full reno, as there's no utilities up there, etc.). However, the question is this: I own the building under my real estate holding entity, that also has 3-4 other commercial/mixed-use units (about 12 doors total). However, I'm working on forming a partnership w/ a colleague. We've worked on other projects together. He's skilled in Property Management and Reno's. I'm skilled in business development, lead generation, back office. I want to partner with him on the top units we are redoing - but don't want to bring him into ownership on this specific building. Is there a way to do that legally?