As a property finder (in my case a JV/Partnership with my buyer)-my buyer sent me an NCND agreement to sign and send back to him.

Actually, not only can you elect to have your LLC treated as an s-corp, you can instead elect to have your LLC treated as a c-corp or a partnership for taxation purposes if you choose.If you don't elect a specific type of taxation for your LLC (using IRS Form 8832), you will be taxed as a sole proprietor if you have a single-member LLC and as a partnership if you have a multi-member LLC.

The investors that were around, were not knowledgeable or were timebound and would join limited partnership syndications for their investments so less competition for the rest of us,imo.Now, what are your arguments for why/why not it could be done today?

I am talking to a fellow REI club member about partnering on a deal. I would like to know your opinion on what should be considered, and should be included in our agreement.

We are going to be purchasing a home for ...

Andy, I have been buying and selling real estate out of my limited partnership for many years.

If it is not a distressed situation and just a property listed for sale, the price won't be right.It would have to be out of a bankruptcy, estate, divorce or a partnership break up or something before I would even listen to the deal, and it would have to be full enough to carry itself the day of closing.

This way I am even more hidden and no one but me knows, who is the beneficiary and the trustee, I also form an new LLC for each Partnership/ Private Lender that I form/use, as I never spend my money when I buy mobile homes.

OR would I be able to do a limited partnership agreement?

Limited Partnership?

Appraisals are def. an issue :) Yes - for invetment properties you can find 70% LTV programs out there - but that means you need to put 30% down - so no - there are no conventional lenders that will allow you to "not" put money down.You can buy with hard or private money and then do a refi 6 - 12 months later - that is a way to go with little to no money down.As for 50 homes in 5 years - right now you are limited to 10 mortgages so after 10 you need to be buying with cash - doing sub2 deals, buying on seller financing etc....or doing partnerships with those who can get additional mortgages.