If you wanted to do a 1031 exchange down the road to use that equity and trade up then that'd be a good idea.The homes I’m looking at buying are in the 330,000-350,000 range.

It’s crucial to consult a real estate attorney and tax advisor to structure the transfer in a way that minimizes tax consequences and aligns with your objectives.

Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.  

I am a teacher by trade, but I am looking to get into real estate since I've been interested in it for years.

Voting has consequences!

But day trading is a job at best and a nightmare at worst. 

The only thing we can think of is he deals with a lot of international trade and money and maybe it’s OFAC we just get a scripted message every time we talk to someone so we got lawyers involved. 

I have my real estate license and am also an occupational therapist by trade- but truly I don't want to be in healthcare OR to help others to buy/sell- just want to get more properties under my own belt!

If you moved it to an LLC that both of you own it will be a partnership and that has its own consequences and costs.