Although you can certainly elect to treat a husband-wife partnership as a disregarded entity, you also have the option to file a partnership return in non-community property states like Maryland so that way the income is reported on your K-1 on Schedule E, Part II rather than Schedule E, Part I if this is important to you.

I doubt that it's enough time to make all repairs, get the appraisal and we get processed for a non-recourse loan (we are pre-approved). 

There is VERY little defense to a non-payment eviction. 

I know of a lender that has programs catered specifically to non-owner occupied properties for real estate investors like yourself.

Such a partnership sounds worthy of launching a formal contract to define non-performance and to make their promised reimbursement policy enforceable.

Hello BPers,I recently met with an experienced realtor who worked for a larger RE brokerage in Arizona that after a decade or more experience remains under the impression that a (non- licensed) investor cannot pay a realtor, etc.

Don't see any thing on sample real estate purchase contracts for commercial or non commercial propery or sample LLC documents.

I can tell you what I have found on the NON tourist side of the Island is very depressing. 

Some day I will need to step out of public schools (I teach shop, so I like hands on work) and I'd love to have real estate supplement my income. 

New tenant received glowing references and has been employed at the same environmental non-profit for several years, has good credit, etc.