I don't care if I'm ahead or behind of anyone else because my goals are not relative to anyone else's progress.I get your point that staying active keeps your skills sharp and that if you're active when others aren't you will have access to opportunities that they do not.

To off-set the depreciation recapture, it would seem reasonable for me to request a concession (e.g., more shares) that's outlined in the Operating Agreement.

Is that the main goal or something else?

Because (depending on the business), they may not be necessary.What are your goals?

@Melissa StanleyEven if you set up an LLC with a partner there is no inherent tax savings by owning properties in an LLC.

This includes all charges paid, utility accounts set up, renter's insurance established, lease signed, etc.

Build a team out that will help support you in hitting your goals and get cranking!

The exterior sets the tone for the house and is your first impression.

Set aside a very substantial legal defense fund if you decide to do these. 

The one following may be a profit split with some leverage, depending where the market is and our goals for that fund.