And since I would be filing return jointly with my wife (she is also a co-trustee) we would just include the k1 in our joint return.?

Hey @Danielle Young, so I would see if I could start with a co-host type of gig for a while to get the hang of the ropes in PMing.It isn't easy.

I might have to bite the bullet and put down some more cash up front if I don't want a co-signer.

I currently have a co-worker who does renovations who wants to get into building housing.

@Justin Bearce FHA 203k loan and a co-signer.

I do plan on moving my office into the back of the commercial space (we own real estate and restaurant franchises), however for the rest of the commercial space (used to be a hair salon), I was thinking of maybe a co-working space.

The two-year requirement for self-employment or commission only folks is a major PITA for those of us who are less inclined to 9-5 work.If not, I think your best option would be to find a co-signer.

Find a co-host and you can be more or less involved.

Thanks @Bryan Hancock for your reply.My original plan was to organize the physician group and simply come in as a Co-GP and actually perform outside duties for compliance reasons (as well as personal interest).Then it occurred to me that in the future when we have potentially dozens of deals this may get complicated and time consuming.

The lead does everything that you covered above, whereas a co-sponsor will be brought on to raise capital and perform any of the other duties that Stony mentioned.