But you can elect to have your LLC taxed as a corporation if you want, in which case you don't pay the Gross Receipts Tax.

Form an entity either LLC or S-Corp (best for this situation would be an LLC with S-corp tax election) - check with your CPA as I am not one.

Here is an article our fund put out on this subject:40 Ways To Take A Syndicator DownIt is meant to educate plantiff's attorneys, but it is very relevant to the topic of this thread too.There were already some good responses.

With over 11,450+ posts I'd have to say I'm aware of what is appropriate here, nothing was meant as a personal issue my friend.

I meant to say "with zero offers", not "zero showings".

@Darren Sager Its true you needs to learn the "Rules" Like the 50% and 70% rules but those are just guidelines used to do preliminary analyzation, they are by no means meant to make a final decisions.Im actually suggesting you get a detailed spreadsheet and learn how to work it, by doing so you will force yourself to learn a ton.

None of this is meant as a deterrent to you but rather a suggestion to make sure you are not drawing conclusions to this asset class that may not be entirely correct.

The Buyer/Borrower was fond of the assumption as it also meant lower interest rates than the current market rate, as in the late 1970's and early 1980's rates were on the rise.

Question on entities: We are set up as an LLC and have elected to be treated as a partnership for tax purposes.

For example Bigger Pockets, I've meant tons of qualified realtors to help me with my needs as far as wholesaling.A good tip a wise man once gave me, "Make it a point to talk to atleast 25 people a day".