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In my experience, a large percentage of them are fully functional adults that refuse to take personal responsibility for their lives, which is why they are receiving free rent from taxpayers instead of working for a living.

My go-to response is always: Do you have a Move-In Inspection to document the home's condition beforehand?

So, consider the source when receiving advice from out of town contributors. 

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

As I'm looking over their explanation I notice that I am being charged 8% of the rent received from CMHA. 8% from the rent the tenant pays and another 8% of the water bill which the tenant pays. 

If you are receiving 3-5 per week that’s not bad, considering the price is what most individuals look for when looking to rent.

The input you are receiving from this wholesaler is garbage. 

Make sure you receive PRINCIPAL plus interest each month (loan amortization) so that you  will receive $3226.72 each month for 36 months.  

You would have ongoing filing requirements with the State and would need to keep business records and documentation.