One name on Title. Two investors

[Andrew McLain]

BP,

I am about to purchase a house for 100k cash with my name on title with the goal of flipping the property with my buddy/future business partner.  My buddy wants to contribute part of the funds to purchase the home and part of the remodeling costs.  What are the tax implications to him or myself if we buy and renovate under this scenario?

Thanks in advance for any help.

Andrew.