@William Coet The GPs are active and the LPs are passive.

I am an active duty service member residing in Beaufort, SC.

Outside of real estate, I enjoy outdoor activities which include, riding four wheelers and off-roading in my truck.

After paying the tax, you can transfer the proceeds to your partner.However, Technically you should have filed partnership tax return where he would have recognized his portion of yearly activities and sale at the end.This post does not create a CPA-Client relationship.

I have been lending actively in the Indianapolis market since 2018, have done over 350+ deals, and used both my own, and other people's money in a Whole Note Investing scenario.

If everyone is truly active, it is now a joint venture and you can have a local real estate attorney form an LLC for you (which is much less expensive).

It suggests that the property is now a better deal for buyers, potentially sparking renewed interest and activity.

I’m active duty Air Force with four properties.

Since you are an active service member the IRS will allow you to have lived in the property for two out of the previous ten years of owning it. you'd just want to verify with your accountant that you qualify for these extensions.Since you converted the property to investment, you may also take advantage of doing a 1031 exchange when you sell.

I would love someone who is an active real estate investor and is trained in tax strategy (not a requirement but the more first hand knowledge the better) Anyone got any recommendations for me?