The costs are not trivial, but they are less than you would pay for a nice used truck.One of the main reasons I am considering this route is the leads that are provided.

Both situations work nicely.

Things will happen that you haven’t anticipated and then it’s nice to have a little buffer.

Appliances look nice until the pet hair destroys the fan on your nice stainless steel fridge and you are out another $1k+ to replace it... 

Nice to meet you.   

Because little Johnny's Mommy wasn't too pleased when showed what the "nice kid with a backpack" gave him for selling him his "toy" and found out it was worth a whole lot more than a "handful of jelly beans".... 

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

@Andrey ShostakA tax calculator would be nice.

Hi @Mason Weiss,Thanks for the compliment on my research, it's nice to have some open dialogue with someone familiar with the Phoenix market!

I paid for the subscription for a few months and drew my own custom Google maps areas and color coded them red/yellow/green based on a "grade" I felt came from a few metrics like crime/average household income/etcI also really like realtors dot com new maps, if you search for an address and click on the map and then go to the top left and choose the Value slider it will give you a nice color coded map of which areas of a neighborhood are higher valued.