I have been using the flat type for years.

When I found deals they would partner with me and either buy the deal from me and pay me a flat fee, or we would partner on the deal and I would see it through till the end.

In that example, they would be exposed to section 1250 recapture at a flat rate of 25%.

An LLC for your 2 flats or duplexes, another for apartment buildings.

Get all the parties on a conference call.I tried, and believe it or not, title company flat out refused to join a conference call with the accounting firm.  

If you think PITI stays flat, that's naive--thinking it means you're property did not appreciate and net depreciated against inflation.

@Russell Payne there are too many variables to give a flat answer.

We offer flat rate Property Management.

I had a flat concrete slab (shaded) where I put it.

I don't like relying on appreciation, especially in a relatively flat market like ours and California seems to have a large number of problems, affordability issues, consistent outmigration, etc.