If you can pay them off using the proceeds of the flips and assuming you are making a $1,000 in rent per house, then you'd have something like $3-4K per month in rental income.  

So far, I talked to my real estate agent about it and she started with pulling a preliminary report on title. we will proceed with a full report via title company too. 

Is it reasonable to ask for 3 pts off the top before splitting the rest of net proceeds 50/50?

@Amit Barman You need to speak with an attorney to draw up a partnership agreement between the two of you, that spells out how you will take title, and how you will split the proceeds of the sale.

I represent taxpayers such as yourself before the IRS.Now, on to the fun.S-corpsDebt is not considered basis therefore you WILL be subject to tax if you distribute proceeds from a cash out refinance or any proceed beyond your exact cash contribution.Deemed SaleTypically for a property that you are planning to hold long term, it is recommend that you hold them personally or in a disregarded entity such as an LLC.

With your good taste, you might want to consider doing lofts in an industrial building ;)Just my opinions, feel free to trash, just don't bash. :)

I feel stuck, really don't know how to proceed next in choosing a niche and proceeding to achieve my REI goals.... the issue is that am new in the uae so i don't know much about the MARKET and i don't have a good network like Nigeria  but i know the MARKET is very lucrative here ....i approached a real estate broker last week ,to volunteer  WORKING with him for free during my weekend so i can learn but he told me to check back in 2 months because of some modifications hes doing hes office.i had an offer from one of the biggest property developer here in the uae called DAMAC .

My plan is to invest in better cash flowing properties with the proceeds, I was not cash flow positive on this house.

The exit strategy will be to sell the C-Corp assets and have the proceeds flow back into the 401K as well as annual 401k contributions.

Right now, I have no clue on how to proceed.