I'm open to share what material I have, I would just like to have the ability to keep one another accountable and make sure we're pushing forward.

If you are going to move forward, and this isn't a scam (i.e. they deposit $1 mil in your account and tell you to carry on), you should probably visit a good contract lawyer to spell out what everyone's responsibility is and try to limit your liability if this thing goes south. 

@Christopher PhillipsSo all the money you own in rental properties, goes in your Income bank account?

Have your attorney draw up the paperwork and hold back a large portion of seller's funds in the attorney's escrow account until he's out.

Account Closed depends, if your trying to finance the purchase then yes its probably too small for a MHP lender to want to get involved even if it cash flows and the seller actually has real and factual financials about the asset. 

Your multifamily model might have a low to stagnant growth rate with much greater replacement reserves to account for roof and HVAC replacement.One of the great parts about commercial investing is the predictability of income.

I also have ideas of building a town home or rental community but there is a lot of work needed with talking to the city, environmental study, financing, low income vs not, etc. 

Or will I miss the opportunity to claim the missed depreciation because of rules around "changing accounting procedure" etc.

Originally posted by Account Closed:You dont want to share? 

Account Closed No need to amend your tax returns (contrary to your CPA's opinion).