So far I have been expensing  my education cost, application fees, and other association fees to the partnership.

@Alyscha Johnson,You may want to see about getting over that.REI is a people business from both ends: people for whom you provide clean, safe, affordable housing and people with whom you associate to meet your common REI business goals.It's not easy for me, so I can identify with you a bit.

@Michael Totman There's one company Associated with National Real Estate but they wouldn't cover my own home, were $2,000. total higher than my existing policies and had reductions in coverage so I'm sticking with my smorgasbord for now...

If you find something out there higher than 70%, it's not a conventional mortgage so likely doesn't have the nice rates & terms that are usually associated with conventional loans.Conventional appraisals on 1-4 unit properties will use the Sales Comparison approach, so even though you've nearly doubled your income, you're still going to be bound my recent comparable sales.

I'm asking the question mainly because I am wondering if a Salesperson can also incorporate and use that Corporate Entity to be associated with the Brokerage.Therefore, if the Brokerage gets sued, the Brokerage can only sue the Corp of the Salesperson.Hopefully this is a non-issue where Sales Agents do not need to worry about potentially getting into a lawsuit, even at his own doing because he was not supervised correctly to prevent the liability in the first place.Thanks for any replies in advance.

@Keri Bissette,contact Robert Hall and Associates, they are based in Glendale and specialize working with real estate investors. 

I'm not sure how often it happens.I figure I have to interview Brokers to see how these situations can be handled.I'm hoping to get some suggestions which I can bring to the interview before associating myself with a Broker.Thanks for suggesting to inform all bidders.So please, keep in mind I'm not trying to be shady.

Joseph I am a lender and investor located in NY , thanks for your post .Question , are there any capital call obligations associated with your syndications for capital improvements , cover unexpected expenses , etc ?

Originally I owned property in more than one state, NY and MA, so I can obtain reports by state.As to customer and jobs, in your setup, units are associated with customers and jobs with tenants.

Your rental activity is reported on Schedule E, and there is no income tax liability associated with Schedule E.