I usually borrow $50k of my uncle when doing rehabs and pay him 12% ($6k) its a win/win

I am an Accounting major with 3 semesters left at UVU, I have many cousins, Aunts/Uncles, grand parents, and parents who all do real estate (mostly buy and hold in Provo/Orem). 

Finally, I was a president of my 5 unit townhouse/condo in roger park, and it was very interesting in how we had to raise our HOA fees in order to meet capital expenditures...it seemed like when our toilets crashed or went away to toilet heaven, all of the others did too.  

Enlist Uncle Roy, the buy him out later on. :) 

The only problem I can think of, is uncle sam may not like this because he isn't getting his cut of the commission.All thoughts are welcome and appreciated.

One worst case scenario is he doesn't use the money to pay his IRS debt and you end up losing your first position to uncle sam.

You could end up waiting years for that while you enjoy the stellar returns of bank interest and get to write a nice profit share check to you silent partner Uncle Sam (right @Steve Vaughan?).

Thank you @Michael Rogers, I really appreciate it! 

Hello all,I've been approached by my uncle who owns a two-unit apartment to join him in the formation of an LLC. 

Originally posted by @Michael Rogers:  You'll want to calculate a cap rate.