Hey folks,Closing on a retail space at the end of September and have interest in renters who want the space for a two-three year rental commitment, but not until December...that means two months of vacancy in a hot downtown retail space.

Thank you for all your help bigger pockets!!!

I have been researching real estate investing with the help of Bigger Pockets for about 6 weeks now.

One partner has proposed the following and I want to make sure that from legal and tax perspectives it all makes sense and is legit.. 1.Form an LLC where three partners would each have 1/3rd interest.2.Transfer the property (title) to the LLC via quit claim deed for some price/consideration3.He would buy our shares/interest in LLC so he ends up with 100% ownership4.Mortgage would continue in my name and I would remain the Garantor (he will pay me some fee each year to keep it in my name).

You can find me on Bigger Pockets.

It's been a while now into Cody Sperber's fast track program learning how to wholesale real estate online, but I haven't pocketed any profits yet besides the education.

.- future assumptions: 2% annual income growth, 5% PV growth, 2% expenses growth, 6% sale expensesBigger pockets tool sheet with above data:Cash flow: $916/monthCash on Cash ROI: 6.65%-7.57% depending on rehab costsPurchase cap rate: 7.15%I know this does not meet the 2% or 50% rule but it seems like a good investment for the area.  

I'm fairly confident the current owner wouldn't want it to happen, because let's face it, he'd like to pocket the 12k and sell it for 50 again.Is there any kind of a play that will let me pay the remaining $38k and give my friend a few thousand so he's not completely out all his cash?

There are three main things that you need in order for the wholesale to make since.1.

The business is a hair salon it has three seats and one is for rent.