I believe we could be in the stage of seeking funding for our first project however we recently purchased  our home so our $ situation is less then impressive at this time.

This is my first and as most people in the beginning I seem to be in the analysis paralysis stage.  

If also ins't necessary IMO at your stage in the game.  

(we would be open to any creative ownership structure that would allow this type of arrangement). 2) Provided #1 isn't feasible, could he use a 1031 exchange to buy another rental property with him and I acting as co-owners through an LLC?

I will be writing subsequent posts for each stage of the process, i.e. finding cash buyers, finding deals, speaking with sellers, contracts, closing deals, etc.  

I would like to offer add some general advice on this topic and this business.Your business is in the very beginning stages.

Account Closed  there ya go tenants are not educated.. end of discussion.Tenants and landlords can create any type of arrangement they want.. its common to have flat fee's for utls.. or this person could include the utls in the rent and not charge them down to the penny.my point is you scare people unnecessarily when your posts almost always include a trip in front of the judge.. when in fact unless your evicting someone you rarely if ever in your career will be in front of a trier of fact,,, unless your like me and have been around the block.. and even with all my experience of 42 years  doing well over 2k loans owning 500 plus SFR's etc etc I have been in front of the JUDGE  one time.... mediation 2 times.. arbitration 1 time.. and this includes a 20 year career of brokering well over 1000 transactions... 

Hi,My name is Brittany Vaughn and I just joined the site.I have a background in Interior Design and got into the home staging business about 1 year ago.

This would be where the arrangement between you and the seller is recorded in the County's land record.So the technically correct answer is that you can't deduct the interest unless you've perfected the instrument.However, most people have an arrangement similar to what Rocky V states above.  

I am sure that Auction.com is getting paid for their service and that is why they add them to their marketing @Wayne Brooks, it is just another stream of revenue for auction.com leveraging the existing platform that they have already built.I have also seen houses lately hit auction.com barely two months past the sheriff sale (now as REOs), but they are pre mls and auction.com does not charge a buyers fee (no co-broker involved), I have bid on a number of those (usually tracked by me from the pre foreclosure stage), but never overpay so someone always outbids me lately on these open platform auction sites.Good Luck to you!!!