In this case, I would suggest doing it under a land contract type structure so that you don't trigger any due on sale clauses in the existing first mortgage.  

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I doubt you'll get it, though.In the future, you MUST draw out your partnership agreement prior to getting into bed with someone.

I'm just hearing more and more about partnerships that are disasters.I'd go with laminate.

There isn't an LLC with an S Corp election, but you can elect to have an LLC taxed as a corporation instead of a partnership.

Countless friendships have been destroyed from business partnerships.

My partner and I decided to buy a condo to flip in about a 6 months timeframe. He purchased it under his name as his primary residence and we decided (with a binding contract of course) to split all profit 50/50 and ...

they see investors, especially smaller firms (sole proprietors, small partnerships) as people who want to do shabby work and rent it out to section 8, thus not contributing to the overall good of the community...and generally in my opinion, they're right.

since its still under the owners name the due on sale clause is not triggered. 3.

I have been trying to pay it off but of course its hard to pay off anything when money is trickling (salary) in.I have always been interested in Real Estate and have been trying to pull the trigger for the past 2 years but just having a hard time making that move.