Ross Ellington , if the sum of your mortgage interest, any points, and property taxes exceed $6,300 for single filer or $12,600 married filing joint or $9,300 for head of household THEN you would elect to itemize your deductions and lower your taxable income by the sum of interest, points and tax.

Either way, you'll need to have at least a joint venture agreement with a partner that you have a good relationship with.

It's actually the land of the "fee" :)  Jokes aside you can often get away with things like that even if they're not permitted provided you don't put noses out of joint (with neighbors/tenants etc).

You have made a great choice by jointing the Bigger Pockets community.

By the way, I don't know of any conventional lender that can close in 30 days today, even with the most cooperative seller.Did you use the standard CAR multi-res purchase offer and joint escrow instructions? 

Indiana real estate market Indiana rental market Finding a RE attorney Finding a property management company that works for youStructuring deals Future markets we are looking at Growing a Facebook page with a flip company Creating content for social media Branding your company on 14 different social media sites MLS acquisitions Growing a quality buyers list Finding private lenders Hard money lending Managing contractors Material ordering Joint venture agreements Real Estate Photography Shooting video Building your website Finding your niche I am in no way an expert I just have tried to document our journey and sharing what has worked and what has not worked we have made money but also have lost money.

My thought process being, God forbid something happens to me they can avoid probate since were considered joint tenants.

Hello Everyone,I am about to enter a joint venture with a partner on a property.

If you have two signatories to the lease, they are jointly and severally responsible for the obligations of the lease.  

What we do is we always purchase with an LLC, and then sign a Joint Venture agreement under that LLC.