General partnership structuring questionMy partner and I  are investing in a 5plex We are unsure as to how to properly compensate each otherWondering about general ideas for how to evenly split up the cashflow and ownership and how partnerships have previously kept accurate account of each partners contributionsI understand that every partnership structure is unique and there are endless ways to divide up the ownership and compensation, I just want to hear some stories and current examples of how successful partnerships are being structuredThanks!

I am just getting into real estate investing and am already finding a seemingly endless variety of properties to consider. 

Remember that LLC law varies by state, but after endless discussions of "to LLC or not," or "piercing the corporate veil," it seems like a primary source would be helpful here.

@Gareth FisherThanks for the post.I think the corollary of your argument is that we are so conditioned to hear the success stories to motivate us to go out and do things or buy stuff that there is little room for the harsh reality of business being anything but an endless string of success stories. 

@Jay Hinrichs$100K was price I paid to exit Phoenix market because I became "burned out landlord", unfortunately, after owning this property remotely for 5 years....PM issues, AC got stolen, house got broken into, endless repair at (significantly) above market prices...

I'm not exactly sure on my personal time spent, between looking online, buying supplies on homedepot, endless e-mails, texts and phone calls. 

Ah-mazing what's going on there.And then good old University of SoCal has made the waves even higher and is due to complete this massive $650 million project by 2017.

I also work as a UNIX network administrator full time, and have had a fair amount of legal experience, and experience in the maze of public records.

It seems in my market, inspectors look at investors as people with endless means and harass us with burdensome improvements and nit picking, while letting owner occupied homes continue to slid into disrepair.

My list of questions is now endless.