Richard, consider using other assets to pay the taxes or obtain a loan from a bank to cover the taxes.

So things that are a red flag for me may be fine for someone more aggressive.1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where you think we are in the real estate cycles (financial and physical market cycles)b) Then only then pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

Half million asset in 401(K), own a house and a rental property. 

If you create a single member LLC, you won't need a CPA as it is a disregarded tax entity and you will report it on your regular 1040.However, since Olmstead vs FTC, single member LLC are not very good for asset protection anymore in Florida (charging order is not the sole remedy).

Often times, even the best database has stale data because they are reliant on the asset manager self-reporting (which doesn't always happen). 

There are several IRA based vehicles that would not be impacted by the presence of employees and would provide great flexibility for alternative asset investing.

With Quit Claim Deed, no title insurance can be obtained.

The question is, how do i show the lender that we have the total assets needed to cover the down payment when i will be acquiring some of it from my partner?

@Wayne WilliamIf you have access to the MLS or know an agent who does, that is easy information to obtain if it was listed.If not, you might have to research via the Tax Assessor's site.

My "reserves" are actually invested in equal parts cash, long-term Treasury bonds, the total work stock market, and gold, which is a very defensive asset allocation that should theoretically hold its value and likely grow in just about any economic environment.