I suggest if you truly are running the houses as a business that you structure what you do around that joint contribution otherwise I would separate the activity.

Any individual, corporation, partnership, trust, joint venture, or other entity which sells, exchanges, or leases its own real property;What I don't see in the FL real estate brokerage code as an exemption is if a layperson can buy their own real property.

be joint venture partners.Anyone have LLC vs S-Corp comparisons?

A pipe didnt freeze , a 1/2 inch sweat joint came apart , I just spent the last 4 hours with a rug doctor sucking water out of the carpet , and now have 4 large blowers going .

However, it's pretty inexpensive (a friend and I are paying $19/mth jointly to be members) and they have an extensive library of educational materials.

I am gathering the lease is signed by all three together and I am thinking they are jointly responsible correct?

@Dewayne Gammel In the past few months we have had several threads going on Joint Ventures, Partnerships, etc.

I have to disagree wirh @Engelo At minimal you need to understand how to do the repairs and have some knowledge of costs so the contractors dont rip you off or try to walk all over u.

To assume makes an *** out of u and me.One other aspect as to many threads on BP, there are aspects of doing deals by some folks on here, their attitudes and how they may view an issue that often should not be duplicated by new folks or those with financial limitations.

Hi Kay,i have not been around here in BP for a while but want to comment on your post :)me, also looking for a 2 or 3 family home in the Bronx area, talking to some RE agents and already pre-approved for a loan but following some of the rules like the 70% as you said nothing fall into that.my 2c,check the roof condition, see if you need one, and what is your exit strategy (are u fixing it up and puting the house back in the market or you want to rent and get montly income from it).