You still have to "inspect what you expect".Ever think of a Joint Venture Agreement?

This test has 4 parts to it that I read about on a few BP blogs by Adam Davis "The Howey Test (otherwise known as why private money investing involves the SEC)" and "Can You Skirt the SEC with Joint Ventures?".

FYI - asbestos drywall joint compound was very common up through the middle 1980s.

Aaron Yates I have been in several joint deals if you will.

There are many groups that have popped up in the last few years, and it's best to align yourself with other investors focusing on the same niche... duplex conversion, flips, multifamily, short-term rentals, rent-to-own, joint ventures... what's your niche? 

This isn't the ideal (you want to definitely have your own buyers), but don't rule out the possibility of doing joint ventures with them.

To the OP, you seem to be facing the same thing every investor trys to accomplish, getting money to operate on.Look into joint ventures, partner with others.

If you're in the 25% bracket and married filing jointly, your AGI could be as high $137K, so this limitation would affect you.Further, its only $25K.

For estates and trusts, the tax equals 3.8% of the lesser of undistributed net investment income or adjusted gross income over the dollar amount at which the highest trust and estate tax bracket begins.For married individuals filing a joint return and surviving spouses, the threshold amount is $250,000; for married taxpayers filing separately, it is $125,000; and for other individuals it is $200,000.Net investment income means investment income reduced by deductions properly allocable to that income.

A few will take note that there will be joints to clean, but most will just like the look.