Hi all.  New to the forums but have been listening to the podcasts for about 3 weeks.  Really excited i've found this and excited to start my journey.I currently own a condo. Paid $117k, $10k renovations, $140k appra...

Jokes aside, the partnership may have different treatment for different partners' classes and I deliberately said "may" because it is not by default rather depends on the partnership structure.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000

Cash invested: $15,500

My company's first Fix and Flip. Bought a house from a wholesaler and it came with a...

We are both new to partnerships. 

@Roland Paicely thank you for the advice.I’ve actually never considered partnership but it sounds like a great idea!

partnership consist of a cousin who is skilled in rehab and maintenance, mom who has credit and investing money to put in, and me to handle administration and hunt for deals. we are putting in the same amount of money and loan from hard moneyquestions:-how to best structure the deals-if he is doing the rehab: how should that be approached- from an investment and payment for rehabbing the house/deal (s)-legalities that should be covered-any other recommendations...thanks in advance

There is a lot more to it than just reporting rental income now that you're reporting a formal partnership. 

The Book on Investing in Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money by Brandon TurnerThis taught me how to use partnerships to my advantage.Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Don't go into a rental property partnership with family because somebody will do no work, but want their cut.

The IRS requires a Qualified Opportunity Fund be a "corporation of partnership."