The issue there is the current prices and CA laws - for the past year I've been struggling to find a property that's somewhat turnkey and that would at least break even...

Agree to allow the firm’s “entry level” attorneys handle your cases or as allowed by law their clerks?

First off, the biggest issue was I had been planning to do most of it myself. 

Just curious, is there any tax benefit to filing as a regular partnership and issuing k-1s to ourselves that show a loss?

That can sometimes break usury laws in some states I believe.

As others have stated, there are Income discrimination laws in Kansas City so if you are an investor with rental properties in this city, make sure you understand the regulations. 

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

to be clear - lots of other issues, lots of other challenges, and BRRRR is difficult right now with interest rates so high. 

I found this deal through a wholesaler in my network and I negotiated with the wholesaler to get a lower price with the buyer because of an issue with an attached empty lot.

The regulation was ruled illegal and a permanent injunction was issued.