Hi,Thanks everyone for the input.I just checked back and a 1099 was issued, and we paid the taxes.

I came in and paid his arrears plus his escrow shortage on top of putting money in his pocket. 

OOS investing is more expensive.

The partnership is now paying interest expense on a $1.5m loan. 

Flips have done good not great, Air Bnbs are going good not great, and rentals all were brrrr'd perfectly but like most cash flow just enough to pay the bills and cover expenses.

We're looking to transfer this into an LLC for liability purposes.From what I can tell, the best way to do this is to retitle the property, pay Chicago's expensive retitling tax, and set up an operating agreement, all of which likely requires a real estate lawyer (what $ base do we use on the tax, given we aren't selling it to ourselves, just transferring it?). 

The right side have 2 bi weekly paychecks deposited to it and then paid expense on the 25th.

Quote from @Andrew Katz: My tenant paid a portion of their rent for December on 12/31/24 (late).

In most situations, the more profitable a property is, the higher percentage the GP is paid.

Hi Saul,Vegas and Phoenix are on the pricier side, so you'll need to put a large down-payment down if you want to cover all your expenses with some cash leftover.