Would love to joint venture if you come across any deals.

@Harjot Khangura @Eamonn McElroyIf he files jointly with his wife and his wife does the 750 hours/year required for the Real Estate Professional tax status that would be legal and the unlimited depreciation defensible, right?

The other 25% $3056 you could deduct in 2023 if you itemize but if you are married filing joint $27700 is the "flat" amount for 2023 that you would need to exceed to make it worth itemizing.

Have fun collecting from someone who peaced out a month ago.3) A landlord/manager should have reasonably priced resources, because not every repair bill is paid by a tenant.I would definitely not put basic faucet replacement in the same category of plumbing as soldering pipe joints behind a wall or installing pressurized systems.

My acquaintances are jointly the trust administrators, the property owners are jointly the beneficial owners of the trust.

For the actual sill material you can look at a slightly sloped tile, or a quartz/granite solid surface material if you want to avoid joints.

If he meets the 2-out-of-15-year rule and lives in the house for 24 months before selling, he can exclude up to $250,000 of gains (or $500,000 if filing jointly) from taxes.

I think you "move on" when you both come to a joint conclusion that it's what you want to do, not what you have to do. 

The check goes to the lender jointly with the seller's name. 

The terms can always be restricted based on who's bringing what to the table, but in generality you are looking at a active and passive joint venture agreement.Have you not taken on any partners until this point?