If you vote yes, you will cap the property tax increases to 10% permanently.

This means you'll probably find it harder to rent the properties (increased vacancy rate), more difficult tenants to deal with, more constant tenant turnover (and the costs/hassle associated with that), etc.Also how old is the property?

So it is indeed more complex that I had thought.That being said, my original idea of establishing a general partnership as a estate planning method is not that attractive anymore.

If this is true raw land with no utilities in place that's a harder sell since grading and utilities are the most expensive cost to land ventures.3) What's the current zoning, and are there any changes to zoning in progress to increase land value? 

Because it will be difficult to attract accredited investors without a track record.

I've been looking into BRRRR but I'm a little confused on how this strategy works.I understand the most important part is finding a property at or around 10-20% below market value and having the chance to fix it up to increase the value but what is a bit confusing to me is if you refi the first house and get like 80k or 85k back in a cash out -- how does the bank keep letting you do this over and over?

That usually increases cashflow better than long term rental.Best of luck...

Your son would be the initial minority holder.Have your lawyer set up a strong operating agreement that will not only provide asset protection but also keep your son as a non decision maker even if his shares interest increase in the holding LLC, making you the one in control.Every year, gift tax free to your son more interest in the holding LLC (up to the gift tax exemption fair market value).This holding LLC will file a 1065 and issue a K1 to all members.

Good evening all,When I am running my numbers on an investment property and I am supplied with the property tax from the owner, how do I calculate the increase in property tax based upon its sale?

@Nicole Obregon It's more or less a catch 22 where the track record attract money and to get a track record you need to have a starting capital.