I want to utilize my arbitrage to obviously use for my personal life but also to create a hefty fund for investment properties later on the line. 

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

This can give you a clearer picture of which route is more profitable long-term.Final Thoughts: Given the location and your dad’s construction expertise, holding onto the property and adding an ADU could create a strong cash-flowing asset and increase the property’s value.

What I said in an earlier comment about "section 179 can't be used to create a business loss", that wasn't entirely accurate/complete. 

With a 3-5% down FHA loan, I snagged a cozy home in a hot spot, worked from home to play handyman, and created a hedge against the "what-ifs" of life.

Even if you can, why do you want to create a note that has such a high risk of default?

Check out FilePlace, where user-created forms are available for free.

To maintain control and avoid being locked into larger deals, consider directly owning replacement properties or exploring a partial 1031 exchange while carefully structuring syndication investments.This post does not create a CPA-Client relationship.

These are the primary factors that will guide your choice of market and the type of deals you'll pursue out of state.Investing out of state can be tricky.

Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled?