@Craig Sloan  Thanks for your response.

Thanks for the response!

.), by Responsible Entity (which LLC, corp or whatever) and property if necessary.

Or see if you can make it the responsibility of your tenants.In regards to pricing of your CPA - You will only find out when you interview a couple CPA's.

If the rent is collected under one person for the time being, he'll be responsible for the taxes on that income and how does that translate to the rest of the partners. 

Thanks in advanced for your responses!

This is one of the main draws of commercial real estate investing, and some high net worth individuals purposely invest in large deals that accelerate depreciation so that they can shelter all their income.

@Christopher Phillips thank you for your response.  

Thanks fir the detailed response.

Thank you all so much for your timely responses, and great advice!