Hello Biggerpockets Community, I'm currently considering a unique opportunity to go 50/50 on a property with a friend, and I'd love to hear your thoughts and experiences on this matter.Background:My friend and I are contemplating joint ownership of a property where they will live and cover the mortgage, while her and I contribute 10% down payment.

One more thing to show how ignorant most plumbers are (and I am a plumber), the discharge (pump side) of your system is ABS (plastic) and most plumbers are too ignorant to realize that ABS (plastic) pipes and joints are not designed for high-pressure water.

@Ayyoub Reza- thanks -  depending on how you file your taxes - you might ask this  question to a CPA ...if you file jointly - I would recommend  you  be the buyer of the  next rental .....this would posisbly allwo you to  avoid needing the document the  rental property 

Joint Venture, Cash How did you add value to the deal?

Can you share how depreciation works in a Joint Venture?

They are drafted in such a neutral way that parties have to go to court (or mediation) even when one party has no legal ground to stand on.The contract language here essentially requires either (a) joint instructions, (b) court order, or (c) 2 years of inactivity with neither of the above occurring. 

If you followed a blog that told you the math didn't matter, you should do this instead, and then gave you an affiliate link to an investment that was mathematically inferior you would likely stop taking the advice of that blogger.

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd househack, you can use conventional and the rules that I mentioned above will not be a concern.

If they owned the property jointly she should get a step up in basis for his half of the ownership. or if he owned it outright and she inherited it, I believe she would get a full step up.

I gained the 100% interest through rights of survivorship from two other joint tenants who have now passed.