I don't recommend skipping this step even if your partner is not concerned about it.Regarding taxes, you must keep records of all expenditures throughout the process and monetary distributions when you sell.

But if your one of the winners its a very nice business with limited monetary risk ( you don't have to buy anything LOL) you just cash checks.. and if you want to buy some real estate go for it.   

I would only buy if I was personally invested in a property for other than monetary goals.  

Compared to Europe and other developed nations that have pursued similar easy monetary policies, commercial real estate in the US is cheap.

While a noble pursuit …society did not ascribe a high monetary value to my undergraduate degree in Sociology. 

I see these monetary needs to change every 5 to 10 years and change being needs get greater not less.. 

It's simply a bonus to creating what is essentially a personal monetary system. 

The monetary base serves as the foundation for our monetary system. 

To some the emotional liability of the house is far greater than the the monetary asset, if any.Oh, I get it now, you're just sore you aren't getting the 6% realtors fee.  ;-)

May that be a monetary ROI or a happiness ROI.