Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

However, I’m new to navigating such a situation, and I’m looking for guidance on:Collaborating with neighboring property owners to reduce costs and share resources.Structuring deals involving land contributions and joint development efforts.Attracting capital partners for projects like this.I think this could turn into a win-win for everyone involved, but I want to ensure it’s planned and structured correctly.

Gas heat would require constant tank refilling and it would be very bad to run out in the winter.

I would imagine the LLC will have its own EIN, but we will still report the gain/loss as pass-through income on our joint tax return.

Ive owned a 3 family in Fitchburg MA for 4 years that has done exceptionally well with it, living for free in one unit for a while and constantly upgrading the property over the years.

All the best, Steven  If you're going to do a partnership or even a joint venture agreement I would highly suggest using a competent lawyer to draft your business agreement.

Whether it’s advice, joint ventures, or even just sharing your experiences, your input would mean a lot.Feel free to drop a comment below or message me directly.

Tax-Exempt Bonds: Tribes can issue tax-exempt bonds for certain types of developments, reducing financing costs.Challenges: Projects often need to be structured as joint ventures or leases with the tribe, and compliance with tribal laws and federal rules is critical.

I also was very excited about the joint ventures.

I have the opportunity to help a family member be part of a joint venture with them putting the down payment down.