I have invested $0 dollars into real estate investments but am on the cusp of investing $50k into my first multifamily syndicate (we're closing within a couple of weeks).
I'm looking for a CPA to answer a few of my questions and a lawyer to look over the documents I need to sign for the deal.
One of my main questions is, I've been told I'll receive a K1 statement and that my monthly returns will be tax free. 1) Is it true they will be tax free? 2) If not all of it, how much of it will be?
Other questions:
Should I create an LLC?
Is there anything else I need to be aware of while investing in this syndicate?
ALSO, what is a fair price to have someone answer these questions from me? I've seen prices range from $300 for an hour to thousands of dollars for the year (which I don't think I'll need an entire year).
