If you do not have a partnership agreement and the assignment check was made out to you, you will have to 1099 your brother for his portion or you could end up paying the taxes on it.Your assignment fee will be taxed as ordinary income and could be subject to SE tax.It's hard to provide specific advice without knowing your whole financial situation, but I can recommend that you save some of the proceeds in a separate account for taxes.Let me know if I can be of any further assistance.Good luck on your journey and I hope this helps.Ed

Originally posted by @Stephen Chittenden:You can use some strategies (such as 1031 exchanges) to defer taxation, but otherwise the profit on each flip will be subject to taxes.You can't do a 1031 on a flip property...In general, all flip income will be subject to ordinary income taxes at your marginal rate, plus self-employment taxes. 

and you may not need one up front as well if you know a little about what your doing.30% on small loans is not out of the ordinary I do those all the time. and much higher actually the smaller the loans the higher the return.. those borrowing the money know this.. what you need to do is check for usury.. my deals are equity deals so they are not loans.. so usury is not an issue for me.. that's how I can make 50 to 100% apr routinely. but I have 40 years at it..

I think a turn of a screw would fix those.One item stated fungus damage to rear patio roof rafters, blocking, support beam and post. 

The whole building measurements include the interior hallways as part of the heated area, but not patios and porches.

We painted the walls white and the cement floor with red patio paint.

Airy as well, and recently have been doing some normal maintenance/replaces on my home such as brick pointing, new wrought iron railings, new steps and patio. 

If anything out of the ordinary should come up expense wise sounds like there would be no money to cover it unless the owners used their personal money to pay for it.

The house has a fairly narrow backyard that is basically all patio and pool.

I have a similar rowhome outside of Philly (Conshohocken), and did half patio / half grass.