If you sell a property, capital gains tax applies based on each partner’s ownership share, and a standard 1031 exchange won’t work if proceeds are split, as the exchange requires continuity of ownership in a like-kind investment.One strategy is a drop-and-swap, where the LLC distributes the property to partners as tenants-in-common (TIC) before the sale, allowing each to complete a separate 1031 exchange.

Loan interest is deductible based on it's use-not the asset securing it. 

Wife and I are both self-employed so acquiring a traditional mortgage is challenging based on our "on paper" income.

I've paid for a handful of programs over the years from cheap to expensive and narrow-focused to broad-based. 

Cash flow is difficult here in California, and so I'm looking for opportunities that have strong appreciation and long-term growth opportunities with strong tenant bases to complement my long-term investment strategy.I appreciate any insight and stories.

While you might have more flexibility in avoiding the penalty if structured as a 401(k) loan or a hardship withdrawal, I would only recommend contributing to a Roth if you have confidence that you won't need to touch it until 59.5. 

So focus on lead generation.Once you have that covered, then yes you do need to have a bit of insight on the workings of the transaction.But all this should be easy to figure out the moment you keep commonsense in play.Start with getting in touch with a wholesaler-friendly attorney for your closings (if you are in an attorney state), and build a relationship with him (that is also what I did)..He should guide you along the way as you go.

I do condo plans as part of my W2, and these SF calculations can vary based on the coord with the attorney and owner as far as how the association is originally set up in its budgeting for dues.

Im based out of ATL (Office in O4W).

@Eric Johnson   Investor and lender based in Dallas.