@William CoetYou're mixing together 2 concepts.

I'm hoping to get a proof of concept property under my belt to begin with.

It depends on what is your tax basis in the partnership, a very complicated concept on its own.

So far my research has led me here and through many, many YouTube videos and articles, but there are still some concepts that I am not grasping.

@Matthew MooreI like Brandon Turners books about real estate investing a lot, they break down the concepts well and help walk you through how to use them.

This was after researching and educating myself on real estate for over a year.Add alt textSoon after I got my first investment property I was really intrigued and was hooked on the concept of passive income and the associated tax savings via the tax code.

Not just real estate, but basic financial literacy (like how compounding works, what a security is, how does a lien work, how to read your credit report, & other basic concepts). 

Unless you are adverse to insurance or its concept, you still want coverage in case the building burns down during reno because of say an electrical fire while the electrical was being upgraded. 

Personally, I would never do it, but I can see it working on a not hating it end (I think the money end will work fine either way if you can stand it) with a more upgraded concept.

I’m literally just not familiar with the concept beyond the basics and wanted to ask y’all if there was a way to use it to my benefit somehow.