@Claude Diehl,You don't need a CPA or tax expert here; this is a straightforward transaction.

or if not 50% capital required why wouldn't the other partner just find a realtor and CPA to find/underwrite the deal and 3-5% for property management then own/keep 100%?

This post does not create a CPA-Client relationship.

But there is no black and white guidance that I could find.And, in conclusion...1st conclusion: no FICA until the child's 18th birthday.2nd conclusion: tax law is muddy (I would add two capital letters, but it's a family-friendly forum)3rd conclusion: pay your CPA, we have to deal with it daily, and it takes skill

I left a lot of money on the table because my CPA was not familiar with accelerated depreciation at the time.

It's very simple, here is the header for one sheet:# Of RentalsAddressDate BoughtYear Roof was put onCost of PropertyValue of Property 2017Value of Property 2021TaxInsuranceMortgageMaint/HOAAC FiltersRent Per MonthThen I have another sheet to keep track of any expenses for the year:# Of RentalsAddressCityJanFebMarAprMayEverything is very organized on these two sheets for the CPA every January.

Work with a real estate attorney and CPA to draft an operating agreement outlining ownership, decision-making, and dispute resolution.

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

Two years ago I had an open-and-shut case of negligence against a CPA.

On the financial side, work with a CPA who understands real estate to optimize your tax strategy, especially for deductions like depreciation and expense write-offs.