Prices have skyrocketed in my area and based off comps, I believe my prop would appraise for around $700k.

Our current focus is working on 1-4 unit fix and flips, but eventually work towards being able to refinance properties and keep and cash flow them.My question is  tailored on the the way I should structure our relationship for the legal and tax base purposes.Should I secure the deals under my business and pay my partner out of my business operating account?

As Melanie noted, true CAM costs (but really NNNs) are billed based on actuals.  

Hi,My father purchased this 2-family house (R5 Zone) back in 1976 in Astoria Queens, and just like many other landlords in NYC he rents out the cellar/basement.I've been reading online the definition between a basement and cellar based on the link below, and I think my father's falls under a cellar.

You can build credit based on how your parents use the card.

Can someone provide me with some financing ideas other than the two that I just mentioned that would enable the other heir to receive cash from their portion of the equity based on its current assessed value and allow me to take ownership of the home, subsequently remodel it, and rent it?

Cap Rate is 0.43%, and Cash-on-Cash Return is calculated by dividing annual cash flow by total cash invested.The property's annual cash flow is $1,268, calculated as $1,268 - $2,932 based on a 20% down payment and a 6.5% interest rate over 30 years.

I had a feeling you were doing Padsplit based on your configuration.

The houses are typically brick, 3 bed and ranch style and although there is crime in 38118, it has a strong tenant base and these are some of my better performing houses.

They will look at sales comps for similar properties and the price per sq', they will look at the replacement cost of the property, and they will evaluate the property based on the NOI and Cap Rate.