Part of me thinks -- wow, this is a lot to pay in taxes, I should try to lower that!

Also, consider these issues: Capital calls if no rental income to cover mortgage payments or major CAPEX expenseA partner wants to cash out, or diesOne partner is sued for something outside the partnershipWho will be the controling partnerUse BiggerPocket search feature as there are other numerous, helpful discussions on partnerships

Numerous investors do this hopefully a few will chime in. 

I have so many questions on financing, how people get their deals, etc...I feel confident on the building part but nonetheless I have a lot to learn I still make mistakes.  

Then there are numerous other options such as investing in a syndication, NNN, private lending, notes, traditional buy n hold, flipping, etc.    

Also when you buy from HD you give a job number(property numer etc) Originally posted by @Bob H.

@Luis Sanchez RodriguezThere are numerous discussions on BP about LLC vs no LLC.

He gets a place to stay for a year, I get a vacant lot to build on, and guaranteed rent literally IN THE BANK!

There is a lot to know within the program; so it is best to consult with your RE Attorney and RE Tax expert.  

There's a lot to it, and like I said, I'm barely scratching the surface about this stuff.I hope this helps in some way.