One more I love about CG is that we have separate water meters there ….

The interest expense is separately disclosed on each partner’s Schedule K-1, deductibility depends on how each partner uses the proceeds.

Utilities are on separate meters they pay all utilities plus their trash etc  Best of luck  Adam

We have a separate lease for each tenant/bed. 

Would this be a separate contract or would we be better off putting the property into an LLC with 50/50 ownership with a operating agreement that explains distributions and exit for the investor.

So you can sell the upper or lower unit separately than the other and you just split expenses for communal areas.

2) After I have EIN on LLC, am I required to file tax return separately (separate tax returns for SSN and EIN)?

I was reading about the interest tracing rules and it seems like if I do a cash out refi (even on a primary residence) and then put that cash in a separate investment banking account, I can begin writing off interest from the investment. 1) I wanted to see if this sounds doable, and if there is guidance on what I can do with this. 

I looked up in the county records and that entire block is owned by the Housing Authority, so how are they separating a few buildings out??

And then pull out a Commercial loan of 100K to be split into 5 separate flip n fix properties.Example Scenario: Property Cost 100KHard Money loan covers 80% and we still need funding for the remaining 20%.For the remaining 20% we pull out another loan.