Best to seek counsel from your attorney and tax professional but if you are going to insist on saving a few dollars, best to provide more specifics on the type of partnership you are contemplating so you can get your hands on something that's remotely relevant. 

With the BRRRR strategy, you can "force" the appreciation and get the benefit of both.Please feel free to connect with me if you have any other questions, and if you need any assistance or guidance with bookkeeping, taxes, or other business strategies please let me know.

So I would be paying it back with after tax dollars to only pay tax on them again when I retire.

Lots of tax delinquent 3.3 acre lots there.

No personal income or tax returns needed.

I’m a W-2 employee in a high income tax state.

Also I am trying to file taxes without a cpa.

Hey guys curious, is it smart to open an llc and rent a room out on my own property just for the tax benefits ? 

If your all-in cost to build for below market value and you are able to place quality tenants, then you should be able to leverage the completed project in a way that allows you to pull out some of your initial investment tax deferred to fund future investments while keeping the rental income and future appreciation.I am a CPA by day and advise many developers on tax strategies.

If you open this as a single-member LLC, it gets a little tricky with additional state taxes when sold or if something were to happen to the single member and the property went to a family member.