Overall, these dismal numbers highlight the continuing incapacity of our region’s expanding homeless services institutions to get their arms around interwoven crises of affordable housing, income inequality, and mental health, that are playing out on our streets.

Raising Current Cash Flow to maximize current split by deferring maintenance but harming the long term value of the building.4) Multiple Exit Strategy- If you can't buy your JV partner out in 3 years, what's your plan B & C.5) Buy Sell agreements- If something happens to either of you (illness, incapacity, divorce, death) make sure there are provisions to buy out each others interest ahead of time.

Benefits Of Using Property Trusts Circumvent Due-On-Sale Clauses (debatable)Helps Avoid Chain Of Title And Seasoning IssuesKeep A Low Profile On Public RecordsEasily Transfer Beneficial Interests (sell your interest)Keep Sales Price SecretSave Title Insurance PremiumsAvoid Litigation (no assets found under your name)Avoid Liens And Judgments Against The Property (Liens will not attach to property in trust, can still sell their beneficial interest without interference)If you are buying a property under a Lease Option or Contract For Deed, this is how you can protect the property from liens and judgments against the seller until the title to the property is transferred to you.Limits Liability For Debts (say the Trustee signs for a mortgage, beneficiary does not personally guarantee the note)Helps Property Management (blame it on the trustee for increased rents or evictions)Avoiding Problems Between Multiple Owners/Beneficiaries (in case of death, divorce, bankruptcy incapacity declared, etc; can be spelled out in the Beneficiary Agreement)Avoid Probate And Estate Taxes (if set up properly)

Under such circumstances, the increase in capacity would require the landlord’s written consent. 5.

Hi @Aquila PhillipsWhether to setup an LLC or not at all depends in your situation.Here's not to setup an LLCIf you buy cash for a property as an owner-occupied, or an investment (hold), you have no liens, you do not owe the government, you do not owe any lenders, and you have wages to support its maintenance and utilities, then you don't need and LLC.You have wages to support bi-annual property taxation payment, you don't need and LLC.You have no tenants in your investment property, then you don't need an LLC.You have no medical conditions that will use your savings in the next 5 years, then you don't need an LLC.You are fully insured that will pay you or your estate in case of accidental injury  or incapacity, or end of life term, then you don't need an LLC.Your wages can support your daily living, then you don't need an LLC.

Further, the Act provides that, except to the extent otherwise provided in the governing instrument, the death, incapacity, dissolution, termination or bankruptcy of a beneficial owner does not result in the termination or dissolution of a Delaware Statutory Trust.

It turns out he is a ward of the state due to mental incapacity. 

Acquired a property with a swimming pool that is infested with tadpoles.Pool is 25000 gallon in capacity, about 5' deep on one side and 9' deep on the other. 

When holding title to US property as a Canadian, there are also many other things to consider besides income taxes including but not limited to: estate taxes, probate, liability protection, incapacity issues, witholding taxes on gross rental income/witholding taxes on sale of foreign property (known as Foreign Investment in Real Property Tax Act (FIRPTA)) and the list goes on.

In the event of death or incapacity of a partner, I suggest the partnership agreement provide a method of property valuation.