If the property is not livable, can the township condemn the property and potentially contribute to rebuilds?

I was unsure why it would show as having had no contributions for that tax year.

Thanks for your help. that’s really up to you and your other equity investor but generally you’re going to want to compensate yourself for real value contributed at an appropriate level through a development fee of 3-5% and then divide the profits and equity Parí Passu.  

I just want to say thank you to all who contribute their information and experiences and take the time to help others.

Realize they serve 2 diff purposes:1) LLC is to limit a claimants recourse to your assets and passes thru income to the end entity2) S-Corps are the end entity and are used to reduce taxes (like FICA) and W-2 amounts by providing more generous benes (like retirement contributions) to "employees" as long as all are treated equally.DISCLOSURE - AM NOT A CPA OR TAX PROFESSIONAL.

Partner 1 may also contribute physically with rehabs, but minimally.Partner 2-No financial contribution, but has the most construction knowledge. 

Furthermore, you mention tax mitigation strategies so I'm going to assume that you and your husband are both contributing to a SEP IRA, etc.

You can also consider 20+ other real estate accountants contributing to this forum.

The partnership will be 50/50, with me actually contributing the needed capital.

I am here mostly to learn from the experiences of others, and if I get a chance to share my own, I contribute as well.