In my view it more useful to focus on the total asset value rather than the number of properties in the LLC.I have found that filing the 1065 for a partnership LLC is simpler when the total asset value is less than 1 million.

Cars are covered by car insurance, not homeowner or renter policies.Tenants files a claim with their car insurance, and you don't do anything.

There are two separate issues here: one is combining your personal and business banking which can complicate filing your taxes and is generally frowned upon.

This can be fairly straightforward, depending on your agreement and if a partnership return was ever filed, you'll want to report half or your portion of the basis in the property as well as half the sale price minus expenses.

Example - negotiated purchase of a 5 year balloon note of $280,000 remaining principal paying 11% interest for $250,000.

Big thoughts are I'm 43 and can retire from my W2 career (Middle school principal) in 10 years, and I want my investments ready and waiting on me then.

You are moving into a very gray area if you are borrowing money from more than 1 family member and it's not for a specific deal as you should need to file an exemption from the SEC.

And it doesn't really cost the taxpayers as much money as they're putting out because the principal is getting returned to the taxpayer when that buyer sells the home.What I really like is that its only for first time home buyers and only for new construction. 

Plus, it takes several years to break even on the closing cost and first few years of payments are mainly applied toward the interest and less to the principal.

Those numbers do not seem correct, unless you are using terms like loan amount of $104,000 is the unpaid principal balance (which is the amount that accrues interest), and the $270,000 is the total payoff.There are two components to a mortgage statement - the first is the reinstatement amount - this is the amount to bring the loan current.