Either he does not know the IRS rules, or he does and is playing a common Wall Street game of hoping that you don't and will trust his misdirection.  

The kind of analytical thinking you learn studying computer science plays well in lots of fields.

BP user docs have always played a key part of all the deals I've done since 2011.

hahaSFRs are a long term play.

I sure as heck would not want to take on a Deontay Wilder as an part timer : ) Just playing.

Just renovating right now and trying to take lessons as the process plays out.

Most accountants play not to loss and don't play to win. 

your partner should be only passive as a "limited partner" and does not have any say.. to avoid stalemate on these ticky tack decisions you should have a minimum of say $5k where your partner will play a role on the decision.. and perhaps choose a mediator "a seasoned investor" who both of you agree to that can decide an outcome..

The All I'm showing is how the power of leverage plays out over time.You could just as easily start with one $500k property with the DP at $100k. 

Played a little hockey while I was around there as well.