Why not just take your 3 SDIRAs and each of invest DIRECTLY with them into a partnership/LLC?

The only way you would pay for the privilege is if you were looking to gain experience and who would want someone inexperienced doing due diligence for them2) In order to stay within SEC regulations when raising capital you typically need to be part of the general partnership so I would recommend checking with a SEC lawyer to ensure that your friend isn’t in breach of any SEC reg’s When raising capital for someone else.

The benefits after that could be stronger... if your father-in-law is a high yielding business man it could lead to private loans and lucrative partnerships and help ramp your business.

If your LLC elected to be S-corp, when the revocation becomes effective, the LLC will be treated as a C corporation unless it files Form 8832 (Entity Classification Election) to be taxed as a partnership or disregarded entity.

I'm starting the discussions on creating multiple partnerships with different partners on different deals, and in different states.

@Brian Burke a return ON Capital would then be a deduction to the partnership and interest income to the partners correct?

How can I filter for a reasonable yet someone with integrity who I can build a long term partnership in this new area  (Mesa, AZ) for me?

Build net worth to make more time for family, travel, and philanthropic ventures.I'm interested in expanding my network in the Detroit Metro area and exploring partnerships to offer services and learn and grow!

I might consider a partnership with someone really close - my mother, for example.

Generally speaking, I have mostly heard negative things about partnerships in businesses.