The first checkbox on the MA ST-12 form to receive a sales tax exemption says "The materials, tools or fuel will become an ingredient or component part of tangible personal property to be sold".

I will try to keep it simple.  State

I look for an asset that has the right type of "ingredients" if you will, such as low rents, deferred maintenance, high expenses, poor management matched with a market that is expanding with year over year rent increases.Not to get to far off track on an answer to you, but when the demand of quality assets exceed supply in the respective market, you can force the value of the asset very quickly.In my opinion a 3 to 5 year time horizon works nicely for my investment strategy as I like deals where I can get in, work my magic by forcing the value, sell and take the profits off the table.

Paint would be the simplest thing to try first.

In this case, a subject to is the simplest approach.

That seems like it might be simplest solution.

To be a successful investor, you need several ingredients stirred into your investing approach.These include(a) a creative imagination,(b) personal and professional credibility born of integrity,(c) a sensitivity to the seller’s needs,(d) a degree of wisdom to accompany your thoughtful analysis of a given deal, and(e) a willingness to take an educated risk.These ingredients should be considered one at a time.A creative imagination.Every self-made millionaire has been able to think “out of the box.”

Doing real estate with one entity is the simplest recipe for disaster....just my $0.02...

How your partnership is set up is dependent on you guys.The simplest initially would be if they lend you the money and record a note just like any bank would do.

There are ways to do it with less, but the simplest and safest thing is to make a first position loan to a rehabber with no seconds behind it.