Alternately, partnering on longer-term real estate investments offers distinct tax benefits and greater returns, that the two of you might consider.If your dad has idle money in the bank, or perhaps in a tax-deferred or tax-free self-directed retirement plan, an 8% - 10% loan could make some sense, but not if he has to borrow the cash.Jeff S. – Private Lender in Los Angeles

Originally posted by @Teri S.

This will lead to making bad decisions, such as:1 - Assuming that future problems are covered (that will take future dollars), with "%'s". 

Like a P&S, these would be individual agreements between a buyer and seller of a specific piece of property.

@Jon DorseyI agree with your CPA and @Aman S. that you can't establish your basis in the investment to be more than what you paid.A portion of the basis will be allocated to Land/building/Improvements/etcThe IRS/Courts have established various methods to come up with the depreciable basis for building.

If you were to attend what would you want added to this event and what main takeaway(s) would you want to get for attending?

@Teri S.

@DJ S.

Have room mate(s), have them pay you rent (your mortgage).

However one of my partners at the time owned a bank and was on a bank board.. so when we negotiated these LOC"s we put in a clause that if they called the loans and did not roll them over we had 36 months to pay them off.. and boy did we need that..