Then you can invest in real estate directly with these funds with tax benefits.

I've been reading a lot of great information and gaining inspiration to do more deals in Fix & flip and multifamily rental units.

I am in the "educational" phase and using this website to gain as much knowledge as I possibly can. 

Two questions here:1) A friend wants to invest with me and doesn't just want interest for the money he's putting up, but rather to reap the benefit (or suffer the loss) of the venture.  

So essentially the benefit to or the reason why someone would want to become a broker is to open up a real estate agency and hire real estate agents to work for them?

This is just over the 3 year mark and I believe I'll have to pay full capital gains (appreciated over $80k from date of purchase).I'm assuming my best bet is to give him the boot and make sure I sell the property before 3.1.17.  

Curious to see if folks have suggestions for research I should do/knowledge I should gain before interviewing GCs?

By leaving an allocation to land, you would shift some of the income to capital gains when you sell, which are currently paid at a lower rate (max 20%)."

This has been the best resource I have found for gaining applicable knowledge for real estate investing, consider it your first good decision in REI! 

This gets you 50 % of where you want to be, while simultaneously apprecating in value, not to mention the tax shelters that would become a major benefit to offset your income.