But to be successful and profitable, takes some distinct characteristics:1.

Second, the ownership of the relinquished property and the replacement property in the three (3) Private Letter Rulings involved two distinctly different taxpayers.

A formal business built on this seems overkill as you’re essentially paying someone for a service that already has standard model.If you and the parnter have distinct business tasks/abilities (i.e. not what you would hire an agent or contractor for), such as off-market lead generation, that’s a different discussion.

However, I typically like to make a distinction between my parents assets and my own, simply because doing so provides me more satisfaction when I succeed.

If all things being equal, the largest distinction between brokers would be splits, given that the brokerage doesn't do any value-add.It sounds like what he's saying is, if you're lazy, you're lazy.

Quote from @Brandon Croucier: That’s a killer loan if they are actually offering that.Seems extremely below market value as even primary mortgages are higher than this right now.I would beware of a bait & switch on this. 

Campus housing has been under tremendous headwinds for the last 4 years.These properties were sold with extremely aggressively optimistic projections, as well as a price that represented a significant premium to fair market value.So sorry to hear about your investment.

This property gives me significant income, so losing it would be an extreme loss.

Quote from @Penny Wilkinson: How are appraisers approaching value on multi-family when there are extremely limited comps available?

There is a distinct difference in the law between short term and long term rentals.