Investment Info:Single-family residence buy & hold investment.

Do you believe it will now be more cost effective to hold a license or do you believe the expenses will go up with what I assume will be a flight from the business by low producing real estate agents? 

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

This is the only thing holding me back from making an offer on this really good deal.

Then the seller is holding a note for 5 years.

Investment Info:Condo buy & hold investment in Keene.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

Quote from @Mark Sullivan: Quote from @Jimmy Murray: @Mark Sullivan if you are a buy and hold investor these loans work great.

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

Once you have completed the consolidation portion of your 1031 exchange you now own a more expensive (and probably really nice) property that it must be your intent to hold for investment use.