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.

.), or lineal descendants (children, grandchildren, etcA corporation in which you directly or indirectly own more than 50% in value of the outstanding stock of the corporationA partnership in which you directly or indirectly own more than 50% of the capital interest or profits interestsRepayment of credit.

I am willing to sign a partnership agreement for the $17,000 with 15% interest, where I will pay monthly interest payments, and cash out the investor in six months when I refinance the home to finish the basement.Also, I want to get this deal done because my lease on my apartment is up, and I have a cashflow property that I want to invest in, but I want to take advantage of this deal first.

In addition to any other penalties imposed under R.S. 37:1455 and 1458, the commission may require that any person engaged in real estate activity without a license return any fees collected for engaging in real estate activity.7) "Real estate activity" means any activity relating to any portion of a real estate transaction performed for another by any person, partnership, limited liability company, association, or corporation, foreign or domestic, whether pursuant to a power of attorney or otherwise, for a fee, commission, or other valuable consideration, or with the intention, in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration:(a) Sells, exchanges, purchases, manages, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of real estate.

Regarding question 1: Get a partnership (and operating) agreement in place, defining every detail in advance (as much as possible at least).

I'd be interested in hearing from anyone local who wants to talk about the market, strategies, possible partnerships, or maybe even share some good references for investor savvy accountants, attorneys, contractors, managers, etc.