Especially if you're actively acquiring new properties.

When you guys contributed cash, you should have recorded cash as a contribution in the LLC's books. 2) When you invested in the LP, you would get rid of the cash from your books and record the Investment in your books. 3) After the year-end when your investment entity (not your LLC) files a tax return,  you will get K-1 from your investment entity. 4) You will record the activity of the investment that is shown in the K-1 in  your LLC's books.  5) After the books are done recording the K-1 from your investment, your LLC will file a tax return and will issue K-1s for you guys. ( just like your limited partnership investment issued a k-1 for you LLC) 6) You will pick up the K-1s in your personal return. 

So you think you're good to go, but then someone moves a bed a few feet while rearranging their room 7 months from now, and poof now three activate, one of which is female, and they reproduce.

I'm actively learning about the market in preparation to purchase some single family rentals over the coming years...if you have questions about any specific areas in Dallas-Fort Worth, I am reasonably familiar with most so let me know!

Army active duty service.

Alan,What are you seeking from an attorney?

I’m new to this market and am actively reaching to and engaging those operating in the area.

As always, seek professional advice. 

I am a active agent and my fees are paid but how can I do my first deal to get my head above water faster?

My understanding is that if the people investing (which doesn’t matter if it’s 3 people or 100 -I don’t think) don’t have an active role or responsibility outside of the money, then the deal should be structured as a security.