You need to look for a Securities Attorney (not a real estate attorney)As @John Sayers mentioned, you can get ownership with a GP by doing other things, like bringing the deal, asset management, data research, etc.

Realtors should be buying properties to MTR for clients while they wait either way.

Therefore, you could say something like "taxes aren't based on your cash flow," but if I were making such as statement, it would be more like "taxes aren't DIRECTLY based on your cash flow" because that better captures the spirit.You have multiple sets of numbers: 1) [actual] cash flow, 2) net income, and since you mentioned running numbers 3) pro forma numbers (i.e., projected/estimated cash flow). 

We debate selling it all the time but we know homes in CA usually always increase in value and it is just a waiting game and we can’t sell it right now and make a profit yet.

Each day like I mentioned is $5.  

Most investors I know that buy considerable land quantities sit on it for 15-25 years and wait till the demand gets there.

Jason they have been mentioned here in this forumhttps://kkoslawyers.com/services/#business-entity-section

Not to mention the amazing fall foliage!

Hey @Jeff Ryan - While I can not speak to your exact situation, I can speak to the thousands of homes I have walked here in Chicago, where majority of the homes were built in the late 1800s/early 1900s.I would say that 7/10 of the older homes I look at have some sort of settlement in the foundation, which causes the cracks and sloped floors you are mentioned you are seeing in your property. 

Just wait til you see the rats.