Any funds the QI gives to the seller will be "boot", except for reimbursement of any down payment money contributed toward acquiring "replacement" property.The 1031 corp website has lots of good info regarding all of this.

He is only able to contribute around 20% of the total cost so he would be a limited partner in the LLC.

Hey BP people,I have been lurking for awhile and decided to sign up and start contributing.

The total limit in 2012 is $50,000.The contribution limit is dependent upon your type of entity:If you are taxed as a Sole Proprietorship, you can put away up 20% of income to the limit of $50,000.If you are taxed as a corporation you can contribute up to 25% of the employee's salary up to $50,000.

I really appreciate everyone's contributions on this website.

Since I'm contributing to this great read, you can probably guess that I was wrong...and I was.

I am not sure exactly how this works.Last you can always add more funds to your SDIRA up to your maximum contribution limits.

Property should be bought 20% under-value and have room for a 10% appreciation during year one (starting amount and only contribution: $20,000)Save all cashflow for two years, which is about $20,000 (a little less, but close).

In this market, I think they're aiming WAYY high asking for any contributions towards closing costs at all, especially 6%.

The organizer/member would define the initial splits of profits, losses, and capital for each member (they don't have to be equal) and the numbers can change as you or your partner contribute (time, money, management expertise, etc.) into the LLC.