To avoid this issue, consider purchasing future properties directly through the LLC.You could also set up a Holding LLC for the properties and a separate Management LLC to handle operations, keeping liability and management activities separate.

But for the unit you’re living in, you can’t do that.2.50/50 Split: Since you’re splitting expenses down the middle, make sure you both agree on how that’s going to work, especially since your unit won’t be bringing in rent.3.Your Unit: You won’t get to write off depreciation or rental deductions for the unit you’re living in, but you might still get homeowner perks like mortgage interest deductions.4.Partnership Stuff: Just make sure you and your partner are on the same page about how you’re splitting costs, income, and who’s handling what.Might be worth chatting with a tax pro to make sure everything’s set up right.

Would love to set up a chat! 

They work with business owners and they walk you through how to set up and optimize the PM company, etc.

@Sheila Vardakis I’ve been looking for a simple system to get set up with at our office.

All the units look great and done in workmanlike manner but the 2bd/1bath unit has a funky set up and layout where it looks like it was pieced together. 

Hi,I set up my 1st LLC this year for a rental and start to realized that I can't do the eviction by myself anymore. 

We set up our infrastructure and are very organize and thorough, and through the year we made some significant progress and went on a learning phase to get better each day and closer to our first deal.As foreign investors we have to rely on hard money which gives a less edge, and face uncertainty with contractors not knowing real pricing and such.We are constantly on the look out for new investment opportunities.The problems we are facing right now is not knowing good contractors and the high competition on the MLS.We just started learning more about off market properties and sending direct mail.We would like to hear from your experience what should our next step be as newbie investors, and if there are some foreign investors here with tips.Thank you so much guys, best of luck to all! 

It wouldn't hurt to set up a meeting with them but don't commit to anything yet.There are many companies like them out there. 

Generally it would be "capitalized", i.e. set up for slow depreciation which does not benefit you in a 1031 scenario.