My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

Upgrades include a fully remodeled kitchen, renovated bathrooms, new durable flooring, contemporary fixtures, and efficient heating and cooling systems.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

I do have an agent I know personally but she's only in the area at certain times of the year.Section 8 would be better than nothing.

The person I would seek advice from is a CPA about this. 

Quote from @Daniel Windingstad: Quote from @Obed Calixte: Some people have the personality, processes and systems & time to self manage, some do not.

The person leaving the trailer there is just to store it there.

That could work if you find the right person.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.