@Polat Caglayan I already responded to another post of yours.Your question will take a lot to answer correctly, so please DM us to schedule a chat:)Thanks @Jonathan Greene!

Yes Mike, that’s correct.

Real estate is not the stock market and it's called buy & hold and not buy & sell for a reason.I did sell a few properties about 10 years ago when I learned the hard way that going into cheaper neighborhoods was not the right strategy for me, so that was basically a strategy correction and it was necessary, but also costly both in terms of dollars and time.

You will need an attorney to properly structure the partnership and you will make sure you do it correctly.

If convicted of bank fraud you may be facing large fines of up to $1,000,000 and/or imprisonment of up to thirty years.Posted without comment.Okay, so one comment:Just because someone in your community says it's okay to do, better clear it with the feds first, or you may be talking with them later..This reminds me of a Subto in California that went bad and wasn't handled correctly. 

If I'm correct in my analysis, then I'd guess I'm also looking for a mentor if anyone is willing!

This is an old thread that was revived with the recent reply, and re-reading it now, I want to correct a couple things. 

Asking in the correct forum will get a better response.Read the RULES!

When I filed mine, one of my LLCs threw an error saying it was already filed, which wasn’t correct.

And you are correct it was a house hack.