@Stuart Udis my thought was to spread the risk is why to partner.

I have been offered a proposal to partner with the broker on a house what percentage do I ask for if I am providing all the labor and he is the money?

My partners and I subdivided the property into two distinct rental units:Unit 1: 2 BR / 1 BAUnit 2: 1 BR / 1 BAGiven this setup, the property is now being used as a multifamily dwelling.

@Akash Agrawal In a real estate general partnership, all partners can be on the deed while only one partner holds the mortgage.

Therefore a partnership return will need to be filed and each partner will get a K-1 reporting their share of income.Each investor will then report that income on their return.Taxes will be calculated based on each partner's tax rate.Best of luck.

You definitely want a legal agreement that's forecloseable, getting as much front money as possible so that you're not just in a lurch with nothing if/when they default, and you should get better interest terms for "being the bank" AND I would qualify the buyer just the same as if they had to go to a bank, because you want to know who your partner is in this deal.

As a Real Estate Professional, you can offset active and passive income, but your partner may only offset passive income unless he qualifies as a Real Estate Professional.

The primary form of diligence we see on the forums is "what do you think of XYZ sponsor and deal" whereas the common form of diligence in the space by institutional investors, large investment groups, family offices, and sophisticated investors involves following the sponsor for years, underwriting the deals, validating rent comps, background checks on the general partners, and a host of other diligence that materially de-risks the investments.  

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

I'm not sure if I am prepared to buy a property in Columbus on my own, but I may be more interested as an active or passive partner.