I say that because after some research on division of corporations website both companies have the same address and registered agent name.

Tenants pay  30% of their adjusted income.

Capital gains taxes are higher if I sell all at once, 15% vs 23.8% due to the size of capital gains income if I sell all at once.

Then I’d hire a professional PM, pay 2/3rds the expenses and keep 2/3rds of the income. 

.$7k to an insurance outfit.Hopefully she gets more  benefit out of this major purchase than the many others who have not.Just my 2 cents.Or that $120k could have been the down payment on maybe 5 duplexes in a cash-flowing market providing the child a basic income for life!

All of the above, and they will look at your personal debt to income ratio and likely need tax returns whereas hard money doesn't need that. 

You will pick up all of the income and expenses from Open Door Capital on your 1065 and then issue K-1s to yourself and wife for your proportionate shares of your LLC.

@Jose BotelloThe idea of selling your current home and purchasing a duplex as a way to start your investment journey is a strategic move, especially with the potential to generate rental income from one side.

@Mitrah Rasti the deed and loan are separate issues.Your partner should be able Quit Claim her ownership to you without triggering the lender's due on sale clause - as one of the lendees (you) will still be on the deed.You should check with your local municipality to make sure how this may impact your property taxes.You should also check with a tax professional to see if there will be any income tax impacts of the Quit Claim.Lastly, NONE of this will remove your partner's name from the loan.

Typical rates are 8-12% of income either monthly or yearly depending on manager.