I'm headed to Ohio later this week to look at several multifamily properties for sale as part of a package deal.

I do not know the IRC section of the top of my head, but I know there is some type of exemption for business start-up costs; as long as the expenses were incurred before the business was created, and the business is actually created (something like up to $50,000).That could be something you could look into for getting started with advertisements, equipment, etc.2) With unequal time, capital and skills,  how can the profits be shared?

Wow are you in over your head?

Just formed my LLC and am not sure how lending works in these instances.  

I'm heading to the Charlotte REIA this week if you're there I'll be sure to say hello!

I mention the "not beat up" thing above so you don't get in over your head on your first project.  

We pay referral fees, and in some instances, we partner with developers/investors/equity partners if it makes sense to do so. 

Wow great start young age keep going you have great potential you learned a lot earlier and have a great head start.  

Neighborhood Scout gives scary vacancy rates for a lot of places. 15% for Germantown for instance.

Oh and then they keep getting code control on their case ;)From chatting to the head enviro cop in our county the other week - they actually enjoy battling these types of landlords.