@Sandra KimThe withholding agent (I’m assuming the title company in your case) generally should be remitting the withholding tax directly to the IRS out of the sales proceeds.

You may want to start with your preferred strategy and let that lead you to a market. 

On the other hand, a 25% cut is too high, considering what she does is what a broker should do; she doesn't provide me with any leads.

NOTHING can generate motivated seller leads.

If so, what would be the first few steps in the right direction?

As a CA contractor I only have to call my broker and the customer is added to my accord, that is then sent to the customer directly, not through me.

And while years will have to pass before we can really understand the nuances of what leads to losses in each deal, and how to parse out what is due to gross negligence, what is due to incompetence, what is due to fraud, and what is due to bad luck, there are decisions that GP and LP investors have to make right now, to get the “least bad” outcome in a given investment.Some GPs are trying to raise capital via capital calls.

If it was up to me I would just given the whole thing away and forgot about it but my wife, thankfully, has the brains to think logically and not give up everything we've worked for.We were pretty hesistant to lead Travis on with big expectations so we started the partnership with $1,000 buy-in and 5% ownership with the promise of being able to increase the partnership in time.

So the options are: You are a GC and are self managing, you are hiring a GC to manage, You are self managing and hiring your own subs, you are managing and actually performing the work.2) As far as municipal inspections go, you always need to pull a general work permit per se if you are going to be demoing and then doing an interior finish. 

I would also highly recommend you educate yourself on New York State tenant/landlord law, especially if you plan on self-managing.