How this partnership might develop and operate outside of conventional means is a gray area.

Is there a way where I could form a General and Limited Partnership within an LLC?

There's no gifting involved on purchase, though it might be wise to draw up a partnership agreement.

I have structured multiple partnerships where I find the deals and they fund the project.

I am open to partnerships if it makes sense.

I am working on getting my CA Real Estate license by the end of August 2020.I bring a tangible set of skills that I can apply with any potential mentor's business and/or needs in case he or she is worried that I will not be bringing anything to the table in return for their guidance, education, and potential partnership. - I have an engineering degree from SJSU.

Partnerships are pass through entities, so you will pay taxes on the operating results of the partnership every year and not necessarily on the distribution amounts as is customary in C corp investments (like stocks) that do not pass through.

If you want practical answers, if you transfer property soon enough, report all the income on the partnership return. 

Hello BPF users,I have started investing in Single Family Homes around Austin, TX in partnership with my friend.

We are going into the partnership with 50/50 contribution to the LLC.