Profits generated by the business operations are taxed directly to the owners, so the distribution of those profits in the form of dividends or partnership distributions carries no tax consequences.The possibility of the enterprise generating tax losses, at least for a period of time, should be reviewed.

I can't imagine any value, any information, any thing that they could tell you to overcome the negatives to your balance sheet and cash flow that come with a thirty-eight thousand dollar hole and ten thousand per year in carrying costs.

That doesn't sound like a winning formula as even if it goes right, between loan costs, repairs, closing, and carrying costs- you aren't left with much for the risk IMO, but there are a lot of people here that flip more than I do. 

I will have some minor carrying costs (interest only loan payment for two months, and utilities).  

Yes, your Acquisition cost ( price you paid, closing costs, etc) plus all of your rehab costs, carrying costs, taxes paid, etc. minus what you sold it for equals profit. 

We have a enough equity built in to provide a down payment on the Tudor home with enough cushion left over to carry the expenses of these properties for up to a year.I'm waiting to see these pieces come together before moving on anything outside of the two properties were already in the process of closing on.I appreciate both of you pressing the issue of risk management.

( carried interest, hurdle rate, after 100% return, etc.)Do you allow the transferability of partnership interests, if so, how do you determine their value?

I started out looking for land, since many advertisers claim they'll do a seller carry, no credit check, and I could easily afford to do that.

Here's an example of one way I do deals with those who want to make sweat equity: I will buy the place and provide all materials for repairs and remodeling and pay all carrying costs.

I probably wouldn't actually get the license as the requirements include carrying insurance for it and continuing education.