And after several years you start doing cash out refinances.....If you can refinance one property every 1-2 years and withdraw $200k of equity....that's not taxable. 

Just outline expectations and roles, and what each of you guys are going to do, and how properties will be acquired and how they will be disposed of, and how and when money will be taken out of the company and you should be good.

The exception is: When the 2 members are married spouses who reside in a community property state. 

You will also discover the warranties don't cover as much as you think, and claims are often denied.Home warranties are so bad that most professional property managers will not manage a property with one in place.

Too many wholesalers are so eager to get a contract that they lock up properties way above market value, hoping to find a buyer who doesn’t know any better.

All that means is you've got bring your best to all aspects of the property and the listing itself -- location, furnishings, photography, heck, even the listing headline all matter a lot.At the risk of pitching here, my wife's YouTube is filled with a ton of great MTR content on setting up a listing.

What type of properties are you looking to buy?

Can anyone tell me why properties in Illinois show up when I search for properties in East Tennessee?

This last year I've been trying to really learn the business and begin to market for properties.

DSCR loans are used to finance the property once you have tenants in the units.