General tax question: If the property was held in an LLC with both of our names on it and was treated as a partnership, we would both have to report the activity on our returns regardless of whose name the mortgage is in?

I am thinking of working a deal to flip a home, with a partner.  I am woking with a contractor and real estate agent.  Any advise from people who have done this type of deal.

If you have a buyers list, and you know a wholesaler with properties, you can set up a partnership with the wholesaler to give you a percentage of the sale for bringing a buyer.

Hey BP,I wanted to see what everyone's school of thought on partnerships were.

Another thing I can think of is trusts are just plain complicated to use with partnership structures, if the trust is the only owner.

I am also very interested in continuing to learn about other ways to make deals happen through partnership and creative finance to allow faster growth than just 1 house per year.Thanks everyone for reading, hope to see you around the forums. 

I am the sole owner of the property and we never made a contract regarding payment or partnership.

Background: My father, uncle, and aunt each share equal ownership in a general partnership that owns three large commercial properties (5 parcels in total).

I am an investor and I have several people close to me that would like to invest their money with me through partnerships.

My question is, how can I structure a partnership deal with him to create a WIN-WIN for both of us?