Curious to hear numbers on partnership if this was done.

"Fair Market Rents (FMRs) are used to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some expiring project-based Section 8 contracts, to determine initial rents for housing assistance payment (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy program (Mod Rehab), rent ceilings for rental units in both the HOME Investment Partnerships program and the Emergency Solution Grants program, calculation of maximum award amounts for Continuum of Care recipients and the maximum amount of rent a recipient may pay for property leased with Continuum of Care funds, and calculation of flat rents in Public Housing units.

I am working on forming a possible partnership with someone who owns multiple lots (lots are SFH up to 16-unit apartments).

@Kyle Houlahan - I've always been advised by CPAs to create a multi-member LLC for these types of partnerships.

Hello Biggerpockets,Some background on me:  I own a design + build firm here in l.a. and have done plenty of flips and currently own 14 doors (2- 4units, 1- 3 unit, 1 duplex, 1 sfd) My agent recently brought me a prop...

Partnerships.

I have a few concerns about it and haven't been able to get concrete answers on these:Since Alabama is not a community state, so I need to file partnership tax returns for such an LLC? 

I bought a foreclosure, all cash using a HELOC on my home, my brother is doing most of the rehab (I am helping on the weekends). We are almost at the point where it is rentable. I now would like to go to the bank and ...

You are getting into complicated area of partnership taxation. 

Curious to hear numbers on partnership if this was done.