Writing down now. 

or write off vs K1 income from other partnership...  

You'd want to talk to an attorney, you'd probably be setting up an LLC, do not buy with a friend without getting what you agree to in writing. 

 If I could do it over I would definitely buy a four family I started with the duplex then a three family and then a four family and I now do 4 families and larger if one person moves the only missing one fourth-year income versus a duplex where one person moves are losing half your income plus with the price point on a four family your depreciation and you’re write offs are larger and later on your net worth is higher

So putting other properties in your personal name you are still able to write off all the expenses for the extra properties?

Ingo Winzer, writing in the March – April 2019 Edition of Think Realty Magazine says these markets are worthy of investigating.

If each co-owner has an undivided half interest then have the co-owner who wants to sell, write out a detailed affidavit with any available documentation -listing all of the expenses that each co-owner has paid for mortgage, taxes, insurance, maintenance etc, during the last three years (or whatever your local statute of limitations is to file for unpaid debt). 

If you have changes, like a rent increase, write them in.

@David D'Errico Here is my question with the agreements/ and or contracts is that do I need to write a contract up and have an attorney lawyer look at it or is there a good way to find already written contracts that I can use so I can have an idea on how to get one done.

If you are familiar with the auctions you wouldn’t even have had to waste your time writing that.