You can include in the definition of default the creation of an additional lien (either voluntarily or involuntarily). 

Finally wealth creation, this I'd do it for.

So while the partnership may show a loss, the loss would be passed through to your personal return and then be subject to passive activity loss rules.The partnership only creates more of a headache as there will be additional tax filings and fees for creation and ongoing support.Activities inside a partnership are not necessarily taxed any differently than if they were reported on your personal return.

@Dominic Franco Hey Dom, I’ve made a lot of progress on my business creation, marketing and have been working my initial leads.

These things do happen, but the net positives of investing in real estate lead to powerful wealth creation that a 9-5 doesn’t provide. 

Offer help with deal analysis, property management, and social media content creation.

If you can get a 4 unit and a basement, that would be ideal and create major cash flow and equity creation, plus you can not worry about a property manager and boost your yield.You can get a whole bunch of cheap debt which your tenants will pay down over time, massive appreciation and potential cash flow if you buy right. 

Do you use any of these or outsource the creation of single listing pages? 

That is why value creation and upward increase of rents is important.This is why I do not like Dollar Generals. 15 year flat rent and an inferior building in junk locations.

I’m in Michigan and I’m not sure of the LLC creation process.