Some points: Cost of Forming a Corp, Taxation, Reporting, (lots more paperwork), lots more taxes, and did I mention lots more paperwork?

This means that if someone is a general partner in two or more limited partnerships, and .one partnership fails and creates a liability, the general partner's creditors can seek to attach all of his interests in all of his limited partnerships.A limited partnership has pass-through taxation, (See IRS Page) meaning that the income or loss created by the syndication passes through to the individual partners for use on their respective tax returns.A limited liability company, or LLC, is a combination of a corporation and a partnership.The term "limited liability" refers to the fact that like a corporation, the LLC limits personal liability to each of the parties involved, so that members cannot lose more money than they contributed.Personal assets can never be touched.Like limited partnerships, LLCs s allow each party to buy units in a property according to the funds he has available.Moreover, members benefit from pass-through taxation.The corporation is a state-chartered business or organization formed by one or more people, and having rights and liabilities separate from those of the individuals involved.Like the members of the LLC, the members of a corporation are generally not liable for the corporation's debts.Therefore, while the assets of the company may be seized and sold, the assets of the investors can't be touched.However, the corporation differs from the LLC and limited partnership in that it can sell shares of easily transferable stock.Not all corporations are alike, however,.The S-corporation has pass-through taxation, but the C-corporation is a separate taxable entity, meaning that the profits and losses are taxed directly to the corporation at a corporate income rate.

Because your friend didn't come shot someone with competant knowledge of real estate and taxation. 

@Jonathan R McLaughlinThanks for the reply and for putting it in the tenants perspective.I do believe that it is always good to try to view a situation from both sides and I agree that there are some things that from their perspective should have been taken care of.However, I feel that they have as others have stated seized control of the situation.They noticed we have been soft with them and are trying to get anything they can out of us.Just to answer some of your points:1)True that some of the walls needed fixing.I’m not complaining that it needed fixing nor did I ever tell them that we wouldn’t fix it.Upon them requesting for the paint to be fixed, I immediately said we would take care of it.I only softly pushed back on a few walls that they wanted repainted because there was literally a tiny, less than a quarter sized mark way up high on a 15’ x 15’ wall.I said that it seemed unnecessary to take care of a very small item like that.The tenant responded that not only did we need to take care of that wall, but suggested that it would be in our best interest to repaint the ENTIRE 2500 square foot house so that all the paint is fresh.This is what I mean by them taking a situation and trying to get everything they can out of it and more.2)The water softener was not checked in the disclosures as being an item that comes with the house.We were in the process of moving out of the house and there were many of our items laying around still that we intended to take out.The disclosures is the sheet that dictates what they get and what they don’t.In my opinion before signing the contract they should have asked why it wasn’t checked if they saw a water softener on the property.It seems to me that they knew it wasn’t working, didn’t want to say something up front because they figured we would say no, sorry it doesn’t work.Instead they waited until we were just a week or so from the moving in and had agreed on everything in the lease to casually ask if the softener will be maintained for them.I could be reading too much into this but it sure seems fishy to me.Why didn’t they ask the same about the pool heater which they claimed was the number one reason for renting the house?

A phone call or scheduled drop-by once every quarter should be more than sufficient to supervise the rentals.

This allows them to invest in communities that cater to their specific needs and allows them to get the health care they need in their own homes.Key Takeaways: In the near future, a quarter of the UK's population will be over 65.

I'm in the city at least quarterly to check up on items that I paid for since the last visit in addition to before and after pics.  

I have recently moved out of the US and working abroad as an expatriate - but now I am getting paid for my work in the local (non-US) currency/bank.I would still have my permanent resident status in the US and tax returns (I have an accountant helping with my taxes relating to how the US handles taxation for expatriates), but I would obviously be missing my (US-based) pay stubs, and my US Bank statements would show chunks of money being transferred in (that I would be doing from my international bank where I am receiving my salary).I was just wondering if getting a mortgage or refinancing an existing mortgage in the US was still possible, and if there were any tricks/pointers that I need to know about?

Of course you still have to fulfill any quarterly tax payments due from your entity for estimated profits.The S Corp is typically the better entity to use for flips and a K1 is for an LLC and not an S Corp.

Makes it a bit complicated with that amount of partners but maybe in quarters.