Be sure to review the legal documents, oral representations won't stand up in court.

So if the partnership would not be allowed to purchase the entity together and I were to buy it, if we were to force our way down this road, would be to set up a legal agreement beforehand, I would buy the property since a partnership can not, and then the exchange for  ($$ + assigned roles + etc), my partner receives 50% equity?  

By understanding a banks lending guidelines really well, I've figured out legal ways around them.

And/or are you willing to take the risk of being sued by the seller for not performing on a legal contract (and losing your earnest money)?

I'm saying that if you had the option of paying taxes on $50K or $21K, legally, all things being equal, which one would you pick? 

Do not rely on it for legal advice.

Said it great .Especially  A legal contractor has more to lose than a homeowner .

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

In Florida, hold over tenants can legally be charged double rents, that is FL state law.

(There’s no way to transfer title that can legally prohibit enforcement of due on sale, except transfer to the owners REVOCABLE trust or transfer to children upon death).