Subsequently start finding ways to make supplemental income so you can begin your journey.

I know the generics.

You can supplement the bookings by advertising on Airbnb and a couple of corporate housing websites.

@Eric Edwards Tax sale could mean a sale for income taxes or other taxes as well as property taxes.Presuming we are talking about property taxes, Tax Sale is a generic term meaning the sale of either a tax lien or a tax deed.

Hi Jessica,Congrats on purchasing a home and best of luck on the repairs.Ideally, the costs that he has been occurring can be marked as contributions to his capital account and expensed my the LLC or expensed on his personal taxes as a supplemental business expense.Sounds like the record keeping is going to be messy and I can't tell you the best way to report this without getting deeper into the books/records to figure out whats going on.If you're open to remote accountants we can hop an a phone call so I can get an understanding of your situation and if we'd be a good fit.

We want to use our money to make our lives easier and be able to supplement our income so that we don't have to work on jobs we don't like. 

I am looking for a small multi-family ideally but single family would work too, and for my first deal(s) cash-flow is my main goal, as I want to supplement my income (I know I am asking for a lot with that in today's market).

@Jorge Esteban Vargas if your offer is accepted your LLC can always assign the contract to the new entity that you and your partner create.As for setting that up, most of my single member LLCs I have set up on my own and use generic operating agreements.

There may be strategic legal reasons in your situation making more than one owner a valuable choice (or there may not be).With what look like 11 properties, it might be best to discuss your situation with an Asset Protection Attorney who understand Minnesota Laws, regarding setting up a structure like this (vs winging it off of generic internet information).Good Luck!

Here's my generic beginner advice:1.