LLC corp either one is fine.. either that or they are totally incompetent.. 

@Matthew BeckerI totally agree with you.  

For example: would you want to do 2 flips in a year and make 140K on each for a total of 280K.

So, If I put in $500,000, the total amount of shares rises to $1,500,000 and I own 500,000 shares while my partner still owns $1,000,000. 4) When we sell the property at a profit, the net profit will be distributed based on a percentage of share ownership.

With some more math, you’ll see that the extra amount in dollars is not that much compared to the total amount of interest paid.

So condos have gone so far to totally outlaw all rentals. 

Thus paying less total interest on both properties.

Or in the even of a total loss?

A high property tax rate will increase the taxes more quickly as a percentage of total expenses when the property value increases.

I appreciate your info but I just can't seem to totally wrap my brain around refinancing  @Nicholas L.