My aspiration is to explore all potential avenues to turn this property into a profitable asset.

I was wondering if there are any potential tax deductions we could take as a passive investor. 

Investment Info:

Other other investment.

Purchase price: $14,300

Cash invested: $14,300

Multiplex developer property near waterfront.

You might also meet someone that could be a potential business partner.

That's a giant red flag for that grocer potentially declining to renew their lease, vegan gluten free customers don't want to walk through a cloud of cigarette smoke to get to their ethically sourced non-GMO organic avocado, and obviously the "no smoking within 50 feet" sign is going to be ignored by the customers of that neighboring business, who are all a bunch of smokers.

"But can't you see the potential?"

For anyone who has read my last few posts; I've been struggling with finding funding for a deal in my pipeline.It's an incredible deal: off market, with insane value-add potential, motivated sellers, under market asking price, and the ability to cashflow $2k+ after rehab.

This deal was found through a wholesaler who has been very active with me and this property is potentially for sale. 

You will likely get a wide array of answers here.I have owned my own tax practice for about 6 years now.I find it that most people come to me after their first purchase. 

This would allow you to retain the benefits of a partnership while potentially offering more flexibility in financing options compared to an LLC.