The parties ...agreed that ownership in the venture was to be shared they selected a manager of the venture.

If you had $20-30K to invest in a real-estate related venture in 2013, where would you put it if your goal is to create reliable, ongoing cash flow in the near term?

But she could open her own solo 401k which is not cost effective.You can treat the profits as 50/50 in this case if you are treating it as a join venture, then you will report the income on two Schedule C's.

The location is in a desirable area of Houston and the DOM of homes in the neighborhood, at this price point are less than 60 days.So is it safe to venture out of the “70% rule”?

Jon, I hear what you mean about a partner, however, my partner and I have been partners in several other ventures in the past.

We hired a project manager who will be managing a new business venture for us flipping and new const.

It requires a lot of work, but the same consistency & marketing as any other real estate investing venture.  

It really depends on the numbers in the deal.Another thing I've done is joint venture with other people in a profit sharing arrangement.

This will put that workflow, of getting the documents, through on Seller's since they would be the member I would assume or their agent.There is a portion of the bill which cleans up some of what the previous Florida condo bill did, cleaning up the language around HOA owning a parcel but not being liable for past due assessments.

You may have different needs that may not fit neatly in one solution.Using a LLC, the LLC files a return & each member gets a separate K-1 for individual tax purposes.I like to have my own entity & the other party have their own entity & Joint Venture or ownership as Tenants in common.