Context - I'm wondering if anyone in the community has experience with cross-state partnerships in real-estate investing.

@Tucker CummingsWhen you borrow from your 401k and IRA you can not deduct the interest as investment expense as you are reimbursing yourself.If you borrow from a margin account you may be able to deduct the interest if the proceeds are used for investment.The leverage on margin is usually not very high and you are taking way more risk to trigger a margin call that will wipe out your profit if you need to fire sale during a market drop to satisfy it.I would suggest that you look at overfunded permanent life insurance policies as their cash value can be borrowed against very easily.Also they continue to compound based on the full amount even if you have loans out.

Hanging on them are beach towels, bikinis, shorts etc...that's what kind of triggered the thought of what if my tenants were to do this in my multi-unit buildings, whether it's hanging in a corner in a common area, or draped on railings of stairs or balconies...I do not have anything in my lease or rule book addressing this. 

I believe we treat our LLC as a partnership...and I pay one of the top accountants in the area a lot of money, so I want to make sure they're not screwing up or misinforming me.

Until you actually pull the trigger, go through the entire process as if you were buying a home.  

If that goes through, we will still need some cash for the rehab.Other avenues we are pursuing our Joint Venture type partnerships through a hard money lender as well as with other investors in our area.Networking – One of the local mortgage companies is having an open house for real estate professionals in the area. 

Long term I hope to keep the partnership active and also acquire buy and hold properties personally for my family.  

At present, we're trying to figure out the details of how our partnership should work.  

Public or investors.Any option can trigger the due on sale clause in an underlying mortgage, an equitable interest to title has been exchanged.

Didn't think we would pull the trigger on our 2nd property so soon.