Their claiming the whole property is not up to their cleanliness standards which includes about 11 things and charging $500.

I realize that our partnership would need to file our 1065 for 2023, but would then the partnership issue subsequent K-1s to me and my wife, to which we would include when we file our personal taxes?  

Also, maybe don't include your lender in every step you're making.

I intend to focus on the BRRRR method primarily, but am open to learning all kinds of other strategies including tax lien deed investing, foreclosure purchasing, and anything else that may help achieve both my short and long term goals.

By definition and generally accepted accounting principles (GAAP) you should not include these in NOI.  

You have 180 days to complete your purchase.I'll reach out via pm with some additional resources including our youtube channel.

Once your total income (including LTGC) crosses the $500K threshold (which is really about $519K in 2024), then it flips to 20%.   ** Remember @Ran Fridman that you are also likely facing recaptured depreciation taxes (25%) and possibly NIIT taxes (+3.8%) on sale, plus state taxes on income (+4.95% for IL). 

You can typically get in the property with 10-20% down and the rehab budget would be included so you can pull from the rehab budget as you go along.

Also include upkeep. 7.

We have a condo that includes an underground parking garage.