Therefore I just bought a house with $123,000 worth of equity when I walked in the door. 

Investment Info:Single-family residence buy & hold investment.

Maybe you help manage the property for them for a small %, or give sweat equity for small cosmetic renovations?

I was wondering whether there might be any tax advantages or disadvantages to my owning the property as both a resident and a landlord.

I first got started in real estate investing working for a real estate private equity firm in NYC.

If you do find a money partner, expect to do all of the sweat equity and manage the deal.

I decided to buy the property from my grandfather using a gift of equity, which allowed me to take over ownership without having to come up with the full down payment and pay for the tax lien and his closing costs.

Warmer' Winters: While we still experience snow, the winters here are generally milder compared to New York.Growing Market: Nashville is a booming city with an insane housing market, presenting countless opportunities for real estate investment & House Flips.We also seized the opportunity to buy a beautiful foreclosure home for $775k, which is essentially a mansion with incredible value/equity (Worth $1.3M).

For example, Almost every day I perform a “risk adjusted return” analysis on potential debt and equity investments we’re contemplating.  

If you have an LLC operating in another state but you reside in CA they make you REGISTER that LLC as a foreign LLC doing business in California.