If you can't get flexible terms to get the deal to work, then you lose your shirt on losses.

The equity increased a ton especially w the limited supply 

I honestly wouldn't even trust anything QB is telling you when it comes to taxes.You're in a partnership, which acts like a conduit to pass through the income/loss of the activity to the individual owners.

But we had four kids, a hubby who was a car guy and needed a shop or big garages, and a limited income.

Another thing to consider is if you want to setup "single-asset" LLCs that only over 1 property to further limit your liability.

I think they have updated limits on owner financing sales as well.

If it is for liability protection, keep in mind to actually limit your liability means that any loans and insurance for the property need to properly be in the name of the LLC and not your personally.

My loss was only $500 BUT I didn't follow my instincts and I got burned.Please BEWARE of an email from Jason N Coogler from Prime Access Loan located in Perry, GA.

The ordinances only apply to city limits currently so you’re probably fairly “safe” in the county.

Year 1 is probably a loss though so that is something to consider.