K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

Part of considering acquiring a property should include additional possibilities.

I have clients (including myself) who invest here and out of the area.

@Victor YangWhy are you not reaching out to a NC real estate attorney to draw up a document that spells out the agreement that you are looking to do with the tenant?

Both units rented at $1500/mo with all utilities included.

For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.

One more likely silly question:the lease renewal has a section that spells out the amount of the deposit.

These properties include different foreclosures and those that sell below their market value.

For example, what is the monthly revenue for the property and what are the "All In" expenses, including mortgage, taxes, insurance, utilities, repairs, etc...

.- BTW: the $1300 includes all utilities being paid by the landlord.