Then, if you didn't create a partnership to hold the property, then it straight onto your personal tax returns and you each report your percent interest on the property. 

In addition to what's been said above, I always suggest working with an insurance broker.Ask about their renewal process and what discounts may be available that not everyone takes advantage of.Discuss what their typical client looks like and review whether you would be a good fit with them or not.  

You would need to buy the place at a major discount or count on some serious capex in the very near future.

So lets talk about the difference between them.BRRRR  Buy - Bought distressed property usually with cash or others peoples money and purchased at a discounted price.  

If your in a hot market I would recommend going to a discount brokerage get professional pictures done 

Yea my taxes have always been straight forward so I will definitely be using a CPA from here on out. 

I am looking to do a variation of the Turnkey process which I would work with a project/ property management company to manage a light cosmetic rehab to build some equity in the deal and purchase the property on a discount.

I am looking to do a variation of the Turnkey process which I would work with a project/ property management company to manage a light cosmetic rehab to build some equity in the deal and purchase the property on a discount.

Thanks in advance.SamHi Sam, I think you should stay on the road and continue to make BIG money (because it's better to be a rich insane man then a poor one), and milk it for all it has.Some advice, straight from D-Town (You only get one shot--do not blow it): https://www.youtube.com/watch?

I'd have to get a huge discount on that.