Not really matter, but to protect your assets and lower taxation better to open LLC in state where property located.

And the value of the house after the repairs it comes to little over 100k as of the market right now, and there is a tenant In the lower unit paying 600$ a monthNumbers looking good the only problem is that i can’t get a loan on it because of the repairs.Any thoughts and ideas about the property and to how can I get a partner for this project.Thank you in advance

Per 1400Z(2)(a) your rollover is deferred by lowering your AGI by the offset amount invested into the fund.

It might sometimes make more sense to go with a smaller unit with a lower price or better margins. 

Lower end rentals can look good on paper but have such high expenses that they don’t cashflow well.

With lower downpayments, however, it’s much more important to buy smart (buying below market value) and think of ways to add value to the property.

And you can bet that whatever you end up paying for the property will be what the new valuation will be the following year unless its lower than the current value in which case you need to protest.

(see #1 for criteria)3 - 4Sale listings (see #1 for criteria)4 - DOM...this is different for all three above.5 - Taxes (for rentals...must be for rental house if they are different than owner), insurance, etc...6 - Desired profit (for Flip analysis), and cash flow (for Hold analysis)...and don't lower these. 

I'll be looking for MFHs (buy and hold for at least $100 cash flow) and lower priced fix and flips (8-10% cap rate) by the end of the year. 

So you net net performance over time is much lower than I get buying fixers, rehabbing myself then renting for top $$, in the exact same neighborhoods.But I admit if you can't do what I do locally, you are stuck just throwing money at these turn keys.