But I knew how to sell and close.now granted I sold land and ranch's so dress was jeans etc with boots for walking through the brush and such.But its really sales skills and techniques that are critical and I was taught by some of the best land men of their day.You had to take control from the first words out of your mouth.. if you are not controlling the conversation and the presentation you wont be a closer and closers is what U need to be if you want to make any money.I suspect that goes for wholesaling which many of you guys are trying to do  however which is MUCH tougher than just selling real estate you either own or is on MLS.  

My lender actually requires a lien release waver from the contractors showing that they've been paid before they distribute my draw.

Especially no where near the price-point that would validate utilizing the house-hacking technique.

@David BesinsYou want to speak with an accountant who is familiar with partnership taxation.Contributions/distributions to/from a partnership may potentially not result in a taxable event.

Join us for food & beverages, door prizes, and our exclusive Buyer's Sheet that are distributed at these events.Thanks!

Each listing platform has different rules on how the payment is distributed. 

2) What is the best way to pass on the distributions (pref returns), and year-end K1 back to friends/family?

@Kyle WilsonProhibited transactions can result in your Ira being distributed at the time of the transaction thus all of the tax free and or deferral income is subject to penalties and taxes.

Cash distributions from my experience have come quarterly which is a nice boost in those months.  

So my question is less about the distributions from net cash flow and more about the ownership interests in the entity itself, which is the part that I mentioned about the operating agreement.