Michael Lauther, sorry, I also meant to say anyone interested in N/P housing arrangements to pump in too.....

This arrangement worked for me and my landlord.

Anyone have any experience with this kind of arrangement?

He basically arranged everything already.....

I ask because I have to bid for my schedule on a monthly basis, but can arrange to have a specific day off.

The LLC might give you some asset protection (or not, since the property and loan is in your names), but it has zero impact on the tax and business arrangement.

Probably should have used the term cosigner instead of 'partnership', but I wasn't sure if our arrangement constituted a partnership (we do not want that).

I feel that by being partners (whether that's legally stated or otherwise arranged) that he'll be motivated to get it done fast and definitely right and be in the game, not just punching a clock.

Otherwise it can get complicated as you really are putting buyers and sellers together, facilitating sales.You need to read your state statutes very carefully word for word as to what requires a real estate license and then don't do those things if you don't have a license.You can be an employee or memebr in a LLC that buys or sells, as a principal, in other words if BAC LLC buys a property and you are a memeber of BAC LLC, you can then be entitled to profits for the work you perform in that LLC.Another way is for you to take an option to buy and then sell your option, this is placing you in a position of havine an interest in the transaction, but those you sell to may have financing issues with this, it also depends on property restrictions or title limitations as beeing seen as sales during a restriction to conveyances, again check and see how these issues are viewed locally.Generally, you can not act as a third party between a buyer and seller and simply arrange or introduce deals and be paid a fee independly as that is a function of a real estate agent/broker.Lastly, it's easy to get a bad reputation amoung Realtors if you're known as a birddog, they will likely see you as unlicensened competiton and expect them to complain and report your activities.

Instead, the typical self storage arrangement involves an owner renting to hundreds of tenants at a rate that allows the owner to pay all expenses themselves....This is not to say that it can't be done relatively passively.