On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

That's one of the fastest ways to lose money. 

I am about to graduate college in May 2025, and will be making about $120k (pre tax) in my full time job postgrad (Washington DC area).

During escrow converted it to a Roth and paid the taxes.

Do we 1st do tax on the LLC and whatever we split 50 & 50 then each claims on their taxes ?

@Josh Ball mentions, there are issues with foreign investors but, nowadays, it's not necessarily on the tax front anymore.

I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

If you want higher growth then Cleveland and Dayton type markets with $100-150k prices may be better suited.I would encourage BRRRRs after your 1-2nd so you can recycle your money.

I find that it's almost a one stop shop in that I can use it for my business checking and savings accounts, bookkeeping, for rent collection, I can issue virtual credit card, I can create all the financial reports I need to run my real estate business and prepare for tax filing and through their partners I can vet my tenants, develop state-specific leases and more.