However, the downpayment will come from me, so I have to figure out how to handle the partnership part :)Be Safe & Be HealthyJoanne

My business partner and I are looking into starting an LLC and purchasing a investment properties in Jackson, MS. any advice or lessons learned from your experience as investors/ partnerships that you would like to share?

Seeking Texas Partnership, Hello John, I read through all the post you wrote and I like your attitude.

Did you use a partnership or a sole proprietor with the other spouse as the employee? 

I am now 4 years into this partnership which I once walked into with the intent to add value.

Investment Info:

Other buy & hold investment in South Elgin.

Purchase price: $188,000

Cash invested: $55,000

Duplex with 3 bedrooms, 1.5 bath, 2 car garage.

What made you interested in ...

I have never done any sort of partnership deal before so I have come to BP to get suggestions and advice.

OrCreate a partnership LLC?

Therefore, it might be helpful to know the LLC's federal income tax status...Generally, contributing and distributing property to a partnership does not have a tax effect.On the other hand, distributing property from a corporate tax entity, either S or C, would be a deemed sale.

As I've recently gotten back into the market actively pursuing deals after some time off to recoup from a couple bad partnerships.