They're usually brought in after the fact when there is a dispute or in large complicated purchases.

That means you must file a partnership tax return which is not complicated or too expensive to do.

My partner joined me on several of those trips, though we likely could have accomplished the same amount of work if just he or I had been there alone.Of course, this was a big and complicated project, so that factored into the excessive traveling, but in general, the first time you do a long-distance project, you're going to spend a lot of time finding contractors and keeping tabs on them.

Calculating basis, depr, & taxable gain is much more complicated.

To complicate matters the winters in ND are rough and construction slows considerably.If somebody could solve the construction/housing situation, I think there is good money to be made.

Install was complicated and involved resizing doors and reframing openings.

I appreciate all the advice you give posters here regarding tax matters but your side note was quite unnecessary.

It forced us to pay the utilities (complicated by the fact that the house was heated by oil) and then bill each tenant based on their square footage which was agreed to in the lease.

I think I'll be able to qualify for a VA loan as soon as I'm active duty.To complicate things further, if we were to purchase a property with a rent-able basement or some other multi-unit situation where we were living in one unit, would this require different financing even though we were owner-occupants of part of the property?

I probably just don't understand wholesaling, but to me real estate is already complicated enough by applying my own money...