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@Saed Rabu check out the FHA 203(k) mortgage product.

Tax season drives me crazy - I am going to get a tattoo of a K-1 on my behind !! 

TD Bank from $8 k up.

I paid him 20 k deposit and then paid him for all work once it was complete.  

If this is going to be a limited PARTNERSHIP (you references "we"), then you will have to have a partnership return completed separately and earlier (March 15th) and the numbers will be put on a K-1, which then will be put on your normal 1040 which will be due on April 15th. 

Jon K.: Thanks for a good laugh!

There is one set of legal documents that you signed into the main offering, you funded the main bank account, you get a K-1 from the same entity as every other investor.  

You can even use an FHA 203(k) to buy a fixer-upper and finance the repairs in the purchae mortgage.Otherwise, you CAN buy a property on a land contract with an existing mortgage.

Some of our guests buy the art displayed in the house and he ships it to their home.