You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

You could also try looking up money judgements filed against local businesses at the magistrate level and target them with direct mail or driving for dollars. 

This strategy allows them to eventually exclude up to 250,000 (500,000 if married filing jointly) of gain from taxes when they sell the property as a primary residence.Hope this helps!

Today, the injunction was struck down. Register your corporations by Jan 13, 2025

When you file your taxes at the end of the year the accountant is going to ask you for your receipts or what and how much you want to write off using deductions.

I'm in a team who does these deals and we have a team of "door knockers" who go back weekly till the auction, they file bankruptcy which only delays 3+/- months 100% chance that the lender will as that their mortgage is removed from the bankruptcy they file NOD yet again.   

I think I have a generic contract and assignment in my files.

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

If they do not respond within X days, refuse to terminate the agreement, or attempt to charge you for termination, consider filing a complaint: https://www.mec.mo.gov/MEC/Conflict_of_Interest/Compliance_C...HOW TO FIND A PMStart by going to www.narpm.org to search their directory of managers.