I'm not a CPA, but this is how I see it from the investor's side.As long as you are declaring everything as income, the only thing you won't be able to take is the depreciation tax break.

Background about JV:Acquisition Price for Duplex: $ 100,000 with an estimated Rehab Cost: $ 20,000.00.Estimated Rent/Unit/Month: $ 700.00Equity: 20 % and pay for the Rehab ourselves and finance the rest.Goal: Cash flow by renting for the Duplex with Property Management coming from PartnerFYI, My investment is going to be coming from a Self Directed IRA.Question: (a) What do you propose I formulate a partnership that will prevent the SDIRA from being declared as Undeclared Business Income Tax (UBTI) by the IRS?

The sad part in these cases is, by the time she declares her income and living expenses, there's zippo to collect for your claim.Yeah it sure stinks, but I've found that the time and effort to track down, serve, go to court is wasted, so I just write it off as Bad Debt.

It seems a good rule of thumb is that I am declaring some sort of income on my taxes.

I finally got a writ to the sheriff and the sheriff has responded saying she will be locked out within 14 days.The lawyer i used asked if i would like them to collect the money she owes me...I said...HUH...SHE DECLARED BANKRUPTCY???

Hello,I have a question relating to the signing of a home sale contract and the seller being declared mentally incompetent.  

(Despite some firms declaring that their IRA-LLC has been blessed by the IRS, this is simply not the case.)

What I am saying, like most who object, is that there's many strategies for making money, and to declare your way is right and all others are a disaster is laughable (and kind of obnoxious).

If you must declare bankruptcy, you might lose the family home deduction. 

After getting my receipts, I scan them into PDFs and organize them into property folders.Example folder structure:Property - 123 Main St-- Applications (keep applications on file in electronic format on advice from attorney -- two years is the statute of limitations for discrimination suits)-- Contractors and Receipts (contains scans of contractor invoices and scanned receipts)-- Insurance (contains policy declaration pages, invoices, etc.)-- Pictures (I like before/after pictures, pictures I use for marketing the rentals)-- Purchase (closing documents, settlement statement)-- Taxes (property tax bills and receipts)-- Tenants (information on tenants such as leases, scanned copies of payments)-- Utilities (utility bills for gas, electric, water, sewer)