If your friends have a rental they should hire a tax professional. 

Quote from @Joshua Tucker: What specific tax benefits can high net worth individuals receive from building real estate on tribal land?

The tenant will claim your service sucked and only tip you $200. 

They lowered the “taxable value” by 40-50% and then raised the tax rate about 35-45% lowering everyone’s taxes that year.

Adding the ex to the title could trigger gift tax implications, so keeping it simple is best.

From experience, finding a knowledgeable accountant is key for handling taxes effectively, especially when splitting expenses, claiming deductions, and managing depreciation.

if it is unsecured loan that is the consequence, you lose they entire thing. as far as tax write off, sorry but none.

Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

The only taxes I remit directly now are the tiny town tax they implemented of 1%.I just take my net income spreadsheet and calculate the 1% and give them a check.

Quote from @Ryan Daulton: Since learning that cash flow from real estate that was purchased from self-directed IRAs is taxed, and that I would not be able to claim depreciation on this property, what are the advantages to buying real estate with self-directed IRAs vs. other investment types like stocks and mutual funds?