I have been getting told by Registered Advisors(RA)/Registered Reps(RR) working under Broker Dealers (BD), the up front cost to buy into a DST runs 5-6% total for the joint BD&RA/RRas as specified in the PPM.

I remember a probate sale that had only two bidders; I and the other bidder decided to make a joint bid, purchased the property for $115k; he needed cash and sold me his half about 2 weeks later for $17,500; a month after that I sold the property for $325k cash.  

Historically, I've used Stessa to manage my property accounting, but with a partner entering into this deal, I'm wondering if there are any standards or systems designed around joint-venture property ownership - something that would make it easy to split costs/profits/taxes, etc.Thank you.

Given the state, location (Chicago) and mental, that I am in, I was wondering what would you all suggest as my first steps on getting into wholesaling in Chicago or nearby cities/states.As of now I don't have my RE license so I know I am limited to 1 sale for the 12 months in Illinois, so I wanted to see if maybe this first sale can help:1) identify if wholesaling is for me2) Build capital for my first home purchase (MFH) since I am still with my parents.I have attended local meet ups and have noticed partnering or maybe potential Joint Ventures can be an option, so definitely opened to any suggestions/advice.Thanks in advance!

I'm in a bit of a tricky situation, my household annual combined joint income between my wife and I is $250k and ~$40k in STR between two properties.

The lease they signed doesn’t have anything about a lease breaking fee and has the two tenants jointly and severally liable.

Hey @Martin Sterling - correct, you're investing in funds not actually partnering into syndications or joint ventures. 

Quote from @Basit Siddiqi: You mention "We" and "LLC" so I assume it is a multi-member LLC.There may be a partnership return requirement if true.Partnership returns are due March 15 with the opportunity to extend it to September 15.best of luck.I'm going to tell you that there is a partnership here by default. 301-7701If you form an LLC with more than one member you are by default a general partnership.Anytime there is a joint endeavor to make a profit and share, there is a partnership.

This was our very first property we bought back in 2012, FHA loan, joint ownership. 

I see a lot of questions about personal residence disposals and their tax treatment so I figured I would just post a quick summary.I once read that there is no other asset class given greater preference by tax law than real estate.Here is an example under 121.If you sell a personal residence and meet the ownership and use tests, you can exclude up to 250,000, or 500,000 if married filing jointly.