The fact they ask you to do this is not only a red flag for obvious reasons, but also because, they should know better how risky this is for you and if they had true good intentions they would have understood that and not offer you that option.What you can do is tell them..

Here are a few thoughts that might help make the deal work better:1.

It 12 years, assuming you make no extra payments, you'll have a paid off condo that cash flows a lot better. 

The issue with section 179 expense is that you normally have to operate at positive income.Under most circumstances, bonus depreciation is better since you can take bonus depreciation even if you operate at negative income. 

2-If we need to issue 1099's, we can use my wife's SSN, but would it be better for privacy if we use EIN?

If you can find an MFDU in Asheville, that could be even better for cash flow, but I know inventory can be tight.

The contractor will give you better pricing the more you use them, some GCs increase their price, but those are the ones you would like to not use (side note, of course with inflation you need to pay your people right, but it needs to be reasonable).

These situations don't get better, they always get worse. 

Maybe it’s making the world a better place, maybe he feels responsible for all the employees who have jobs that make their dreams and hopes come true?

She ended up using a 1031 to exchange into a smaller multifam near Austin that better aligned with her long-term goals.