This first venture of ours we plan to retain for cash flow but wanted to also reach out to hear anyone's thoughts on flipping in the Jacksonville area and if the current market is favorable to that type of venture.

With such a plan, you still retain the tax sheltered benefits of income to the plan, but the plan is configured differently so it can invest beyond the stock market into things like real estate, private mortgages, venture capital, etc. 

No excavation, no paving, and no retaining wall required.

If you would like a lawyer to do the legal research into the statutes and case law to find the precedents, to be able to answer this question, you can retain me or another lawyer for our hourly rate.On the link at the State of California website on LLC taxes, I gave you above, it gives an example of when the taxes must be paid.

With that cash out, I bought and paid cash for 3 properties and bought a new house for myself, while retaining my previous house.Currently, I own my personal home and 4 additional rental properties.

Each of us will deposit half the amount required for the purchase.We will close on the property using the cash from that account that came 50/50 from each partner.Then we will refinance, but again, only in one of our names (so we still retain more future lending opportunities with the other partner).Questions:From what we understand, the funds still have to be "sourced" when we refinance.

Need to figure out the best alternative with retaining both of the residences.

But to engage in license related activities you need a license.An exemption would be if you were an employee of a company retained to run an apartment building and the employees were under direct control and supervision of a broker.

The largest expense was replacing a large retaining wall across the back of the property.

I would then manage the property to make sure that the properties retain their value and are not, to be blunt,  destroyed by the poor care of students.