So we create a partnership agreement and a new LLC and he funds the LLC account with 50k.

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

I have totally given up on Quickbooks though it remains the best accounting software for the non CPA type 

Proc. 2002-69, 2002-2 C.B. 831, for special rules applicable to husband and wife state law entities in community property states.I'm happy to answer or confirm any tax/accounting questions if you'd like

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

There, now it will appraise as a FORMERLY illegal bathroom, current storage closet (appraisals are about the CURRENT property, not speculation about what the property might once have been historically). 

There are several other issues (undisclosed maintenance markup fees, excessive charges to our account, significant reductions to agreed rent without communication, etc).

Quote from @Brandon Weis: We have historically had in our leases that renter's insurance is required, but we had been lax on enforcing it because owners didn't really care and not all tenants had it.

Employment Rate: Italy has historically had one of the lowest employment rates in Europe.

This has become challenging due to an increased interest in the historic district in Dubuque due to revitalization plans that include 18 million dollar investment into the historic downtown area.