If you made a decision that doesn't match your qualifications, admit your mistake and make a better choice next time. 

There are certainly ways to restructure to result in less partnership tax return filing requirements, but the income will flow through to your personal returns regardless of the amount of LLCs in place. 

We closed on 2 more properties this week where we will be making around $35k net profit on each.If you are planning to do marketing, have a budget for at least 6 months to see some meaningful results.

As a young college grad I was eager to replicate and expand on my friends results.

First, I do realize I probably made a huge mistake in purchasing a home without being able to see it in person. Yet, when your in a different State and trying to sell your home, and you must rely on the contract that ...

Account ClosedYes such transaction would not result in tax repercussions.

The reduced price did not match the cost of repairs.  

As you are asking the question, I would guess that you know that a leaking oil tank can / will open up world of issues; Phase 1, Phase 2, remediation, retesting and who knows what else.You could purchase it subject to all remediation done by the seller and certification of cleanup by the fire dept / county / state (who ever has juristriction on this).Alternativley, you could be willing to invest in the testing / consultants necessary to scope the problem (with no guarrantee that they are 100% correct) and then make offer taking the results into account.Until you know the scope of the problem, you can not know the cost to fix it  so unless you have done this before and have deep pockets, making any offer is very high risk.Oren

I’ve found the best results utilizing a tax attorney.

Are there other potential non-rehab/non-tenant pitfalls that result in a deal costing more money than anticipated or even the collapse of the deal itself?