For example starting payroll, filling W-9 for independent contractors, tax rules, bookkeeping e.t.c?

When you look at W2 wages you have Fed, State, UI, SSI, etc... easily pushing 40-50% for many.

But I would hope to build a partnership and eventually have him buy into a equal share position where profits could be split 50/50.Thoughts anyone???

It sounds like you might be referring too one of the three available replacement property identification rules which allows you to identify any number of properties as long as the combined value of the identified properties does not exceed 200%. 

I'm looking to do a 50/50 LLC ownership but I'm concerned about being able to apply for loans under the LLC.

My name is Scott and i'm 50 years old and looking to supplement my future retirement with real estate investments. although i would like to avoid mistakes that could hurt my pocket.

Banks lending to IRAs will limit the LTV to 50%, sometimes 60% last I checked.

Hi there, I'm unsure of the tax rules in USA but I'm familiar with them in Canada and I'm assuming they are similar with respect to depreciation (CCA in Canada).

Mobiles in a community are subject to lot lease rates and community rules that you are responsible for similar to a condo except governed by the community owner.

These lists, if you're interested in trying them, are:- 75-100% equity with owners over 50 years old- tax delinquent- code violation...particularly overgrown or junky, multiple/long standing issues (this is a time/energy intensive list for me, hopefully your city's site is more user friendly)- recent arrests (sent out Wednesday, believe it or not I've already gotten a call back)Good luck!