btw, my long term goals is just become established in my area in rehabbing and rental properties.I can't stand being stuck in doors and I love being hands on, so getting into the REI and rehabbing projects will allow me to have that and earn a living while doing so.

The general partner may be subject to Self-Employment Tax.LLC taxed as an S-Corp you will pay ordinary tax; however, once you have an established income the IRS likes to see that individuals are paying the operators a "reasonable salary" for the work being done.

My advice would be to establish a written plan as a group.

Once you find your WHY, you will be able to establish goals that support that purpose easier and once you have your goals, your investing criteria become clear.

For me, I have invested just enough to be able to learn the low-end/Sec 8 rental market and monitor/establish a network in the city. 

Hello,I’m an investor in NY lately I have been Approached to start investing with New Junior investors, but unfortunately I have a partner and an 2 established companies already.My question is, what direction do I send these newby investors who have bad credit or a little to no credit as well as not much income to show?

If you're an established agent, giving up 35% of the commission may not be for you.We started with Opcity shortly after our agency opened, and we were looking to get our business established, and grow our clientele. 

then get a mutually convenient schedule established.  

In addition, I am also considering death or disability insurance established for our business.

Flying in and out of a REIA every 4-6 months  won't establish connections.