@John Coppock this is a very rare occurrence usually when partnerships happen it is for larger development deals that are a different beast altogether.

If you create a partnership with a partner and contribute your property, then your partner contributes the same amount as your property to the partnership, there will be no tax consequences, generally. 

So you partner with locals but then you probably risk a lot of legal and fraud issues with partnerships with local people whom you don't know in places and governmental systems you don't know well.

Hello, my name is Will and I need some advice on a long-term partnership.

Is it a disregarded entity, is it taxed as a corporation, or is it taxed as a partnership.  

You only have to make the purchase or investment within 180 days of creating the capital gains event under an S-Corp or partnership LLC, and you self-certify with the IRS when filing your taxes.

HiI am having a hard time understanding how one should pay himself within a family partnership (LLLP).i have limited understanding in taxation*My accountant advised we have a salary paid by the entity, essentially making us employees.i read that there are some caveats to that, is there an alternative/conventional way to set-up recurring compensation?

I am having a hard time understanding how one should pay himself within a family partnership (LLLP).i have limited understanding in taxation*My accountant advised we have a salary paid by the entity, essentially making us employees.i read that there are some caveats to that, is there an alternative/conventional way to set-up recurring compensation?

Partnership?

You have to know the locations and good local property management company to handle the rentals.You can also consider partnership with people in Michigan market; with less return; however you have better risk vs return