I know of a couple of creaps doing the same kinda thing with notes.Creep will offer a partnership in a property giving the investor a second.

I won't go into too much detail here because that stuff is in the profile section; just know that I have a strong passion for this industry and will do anything related in the field from passing out flyers for available houses to having round table discussions to securing partnership deals.

JG, A two-member LLC is treated as a partnership for tax purposes unless the LLC elected to be taxed as a corporation..

I am thinking of starting a partnership with a friend in his non real estate business.

Fortunately, I have a family friend who is a well known real estate attorney who could probably help me set up a partnership between me and anyone interested.

Recently, I joined this network to share ideas, testimonies, and to seek limited partnerships with motivated like-minded investors who have an interest in succeeding in Real Estate.

Also, how are these partnerships structured?

If the owner is an individual as opposed to a group or partnership, you can also have him create a hardship letter provided he personally has one.

If you are an LLC, partnership, or Sole Proprietor, you can NOT legally deduct an expense based on the time you, as the owner, put into the rental.I believe that if you are a corporation, such as an S corp, you can become an employee of the corporation and pay yourself, but then you have to pay income taxes on that as well.

Looks like the partner would bring teh buyer to the table justifying a split and in other cases, the roles reverse and thus the partnership evens out in this scenario.