You need a well educated real estate attorney who has many years of experience with real estate partnerships.They will probably advise you to form a LLC (limited liability company)and designate each of you as a partner.I will tell you right now that I don't like 50/50 partnerships because getting into arguments among partners(especially siblings)is too easy.One of you should be designated the leader legally and have the final word on all partnerships decisions.I would advise you to purchase 1% or more from your sister in law and be the dominant partner.It will make things go 1000 times faster and easier not having to run to your sister in law to get her to sign every little document over the next few months and the years to come.Also if she decides to cash out of the partnership she can sell her minority position to you or another investor.The lawyer will help you find a good affordable CPA and new property managers (if necessary).

if you bring it to court and the buyers talk about sibling arguments.... and then breaking the deal with each other.... l look like the victim paying the consequences...I feel like the buyer's agent  is hounding me now bc he can’t find them another house unless they get the deposit back...At the end of the day I just want $4,290.30 of the $20,000 deposit to cover the time it was off the market during October & November.

So, on top of their “right” to move in members of their immediate family (which includes in-laws, step relations, children, siblings etc) they may also move in someone who is not immediate family.

Hi everyone:I am curious if any 1031 experts could weigh in on the following:  I believe that 1031 exchanges disallow "related party transactions" where family members are related parties if they are siblings, spouses, ancestors, and lineal descendants. 

Also, I am in business with my parents and what changed my attitude(at a much older age) was when they started to involve me in the business discussions, when they told me what each of me and my siblings would be beneficiary of based on our contributions to the assets.

There wasn't any room to do the court process with the surviving sibling who's share wasn't spread to 17 others. ..

With no apparent takers in sight, and the split-up of the siblings imminent, the idea of adopting them ourselves crept in.

Paul,  have a sibling who works for large REITs and when I asked about the software question one name that came up was Fusion. 

It's also something you can pass on to your kids too when you go (or partner, sibling, or whoever!).

Case in point: I just passed on a loan in which the borrower was buying out siblings on an inheritance so her daughter could live there.