North Jersey for now and/ or within 30 miles of 07042Thanks,

Last year (2015) we sold the property and made a decent profit, but the 1099 is in my name only.Do I claim half of the profit shown on the 1099 and give my cousin a 1099-MISC for his half?

At the time, my job was only 8 miles from the new place.

You don't want the sheriff to show up and only be able to evict half of the tenants.  

The asking price is $60,000 but it has been poorly managed and is only half occupied.  

Also, should I stick to looking for one right around where I live or would it be OK to use one who is in the city I work in, about 100 miles away from where I live?

The original pro rata split per limited partner s/b retained, i.e. their splits should be cut in half.    

For my rental buy/hold portfolio (under an LLC), a few of the properties I'm able to achieve 150% return (just because I've been able to pull out my original investment and more through a low cost loan).Agreed, a non-recourse loan would be a point and half higher and getting 150% returns may be harder. 

Awesome post David, thank you.I think Jim Grant said it well when referring to treasuries, he called them "return free risk" ;)  It's so true though, price discovery is out the window when the cost of money, or one half of every transaction, is manipulated.  

So far I have identified several interesting properties that are within 1-2 miles from RIT.