Hello,Specifically wondering what advantages the General Partner(s) has compared to the Limited Partners....Thank you in advance for any insight.

Hi Cindy - It depends and difficult to provide detailed answer without evaluation of specific situation as SE tax hinges on whether your income is classified as active or passive.

@Joyce KimHELOC and home equity loan are not the sameEquity line of credit is a line of credit that let’s you withdraw up to specific amount and you can take less and pay interest on what you drawFor example if you had a $50k line of credit you may choose to use $20k of it and it is usually ten years where you can pay it off and draw moreA home equity loan is a second mortgage which is a fixed amount and paid off over a period of timeHELOC is better in my opinion but if you have no income it will be difficult to get approved even with the equity you haveCommon misconception people have is if you have equity you can just take it, that’s not the case the bank also wants to make sure you have the ability to repay it.

2) Assuming I can proceed and put the home under an LLC of some sort, what would stop the tenant from just checking the county tax records and finding out who is listed as the last purchaser, and from there come after my family? 

It would be helpful to see the rates on both the purchase and the HELOC. 

I'm past middle age and I would like to purchase a duplex to house hack in a better neighborhood.

Hi BP Community,I'm in the process of evaluating a fix-and-flip opportunity for a single-family home (SFH) with the following details:Purchase Price: $1,000,000Renovation Costs: Approximately $400,000Estimated Timeline: 12-14 months from purchase to saleI'm trying to determine what would be considered "good enough" multiples and internal rate of return (IRR) for this type of project.

The following is in my purchase agreement and I alway get a MOC on all purchases  MEMORANDUM OF CONTRACT RECORDABLE, PERSONS BOUND AND NOTICE: Buyer may cause to be recorded, at Buyer's option and expense, in the public records of the county in which the property is located, an executed Memorandum of Contract.

You can choose to accommodate without being obligated to make an ADA unit...Option 1) Items that are more difficult or only of use to a specific disability could be excluded.

I started purchasing a small multifamily in Columbus, Ohio 2 years ago.