Each representative wants you at the end of his presentation to buy his membership and promising a whole life partnership.

If/when the seller becomes motivated to sell at a reasonable price, then you might want to be ready to pull the trigger quickly.If you really want this particular property, I would suggest viewing it and determining what it is worth to you (completely throw out the list price as it should not factor in to coming up with your own value).  

So far I discovered that I want to pursue the buy and hold strategy and form an LLC as a partnership.  

I'm in a partnership that is a year old.We've been able to acquire several properties and have a supportive institutional JV backer---for which we're thankful!

For the time being, he’ll just have his name on the loan and we can write up a partnership agreement.Please correct me if I’m wrong about the following: For tax purposes, I’m assuming that I’ll be able to write off 1/5th of the mortgage interest and r/e taxes on my schedule A.

Will this trigger a raise in Property tax?

Of course I would need a partnership agreement also, correct?

Read another article/post that mentioned setting up multiple LLCs to cover different types of Partnerships too.

., partnerships, etc).  

You have an LLC....okay...is it a disregarded entity, a partnership, ...?