CA always has to make things more complicated don't they?

Great location, but starting tear out of the whole house for the land is 10 to 12k with no complications.

I don't know if you would need anything more complicated than that.

To complicate things 1) he has no vehicle.

And then you have an Operations LLC - a shell LLC that is the public facing entity, doing all the interactions with tenants, contractors, leasing, hiring, management, etc. with no assets and very little funds beyond whats required for proper capitalization and operations.That's the basic idea, but things get complicated from there due to the partnership, financing, commingling, etc - which is your current situation.

I just got a loan on a 55k property with 20% down, our income is already very complicated with self employed income, rentals etc.

But we came across a sort of complicated situation.

Real Estate Can Be Learned by Average Person 13. 401(k) Mutual Funds Can Be Learned by Average Person (puts, calls, hedge, margins, VIX, timing, day trading, yield, etc are all too complicated for typical investors) 14.

It can seem a bit complicated at first, but once you have experts working for you they take care of all the complex parts.Bonus depreciation had some great changes, namely the increase to 100% and that used property now qualifies!

@Juan AlvarezBeing a renovation lending expert I can tell you the process is not that complicated.