My husband discovered the Morris investment you-tube videos and has been excited at the prospect of investing in a turnkey operation in Michigan.

You may find out that it won't work out to be a 50-50 deal as far as work load, one may be doing more work than the other so you may want to distribute the profits differently. 

I am a 37 year veteran of the real estate industry having owned and operated a multi-office real estate firm in this market for thirty years.

The long term business behind it is property management after we purchase the rental, put tenants in, and sold it to our investors.We think it makes sense to establish an entity to operate this on but we are not certain how best to structure it. 

BP please fix this for us.One option you could try on the desktop is, load the profile page and press the F12 key which will give you an option to see how the page loads on a mobile device.

One example is the major employer is closing its operations.

Only in the military can you blow 10% to 25% of your gross income on recreation, and still save a boat load of money over time.It's actually not uncommon. 

Without that income it can make things extremely tough to keep the house operating .

The other consideration is order of operations. 

An LLC works well for us, as it clarifies the terms of the partnership and defines our operating agreement, as well as how to dissolve the partnership when the time comes.