So I would caution everyone to make sure the replacement cost for your improvements will realistically cover your actual replacement cost in the event of a total loss.

If someone had gotten hurt and sued for $1mm then these coverages would have kicked in.Having been thru the claim process on a total loss.

These days too many people have too little coverage in case of a rebuild so you do want to make sure you understand the true cost of a total loss.

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

That being said, the only thing that being a QREP does is allow you to take losses against active income.  

K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

There is a legit chance of a loss of initial investment.  

North Carolina, Florida and Tennessee round out the five leading growth states.And, for the fifth year in a row, California reflected the largest net loss of one-way movers, according to the data.

I know you are dealing with a 3 month lease rather than a 12 month lease, but for example....Say I rent my home for $2,500 per month and have to lower my rate by $100 to find a quality tenant that is a loss of $1,200 over 12 months compared to a loss of $2,500 for each month it remains empty. 

Communicate expectations upfront—because once they start double-parking or treating the place like a frat house, it’s game over.Cameras, Cameras EverywhereYou’d think adults wouldn’t steal each other’s food, right?