I specialize in rehabbing SFRs for rental properties throughout Indiana which are typically <$80k and do not currently have a partnership with a wholesaler for a steady stream of deal flow.

I have the numbers to a few parks geared up but haven't pulled the trigger yet.

We had a partnership for about 20 years where we purchased a fair number of houses. 

Again, do you have any idea what a massive can of worms your dissatisfaction has triggered???

The IRS allows any sole proprietorship or partnership (LLC) that is wholly owned by a child's parents to pay wages to children under age 18 without having to withhold the payroll taxes.

If they're all just held under a SMLLC in Nevada then then all goes on your personal 1040- if the holding entitity is a partnership then you have a more complicated filing where basis and balance sheet tracking comes into play. 

I was getting close to pulling the trigger and began to get gun shy.

I've heard so many horror stories about the deadlines for 1031's, just make sure you have all your ducks in a row and have a great 1031 intermediary before you pull the trigger.

Please share the info if anyone knows any Attorney with excellent track record .Specifically looking for someone who specialize in partnership & JV real estate contracts.ThanksRavi Singh

Creating an LLC to define your partnership, ownership stake, decision making process, etc... is always the safest option (and the LLC will be on the property title).