Another common one is working in partnerships; these can be structured in many different ways.

We wholesaled and structured partnerships to build our portfolio and cash reserves.

Return of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint venture).

I live in New York and I want to get into real estate but I don’t think New York will the best to start I’m looking for advice for local and out out of state and or partnerships 

BUT - with that, you want to get started - which makes it tough.Here’s something you might not have thought about… if you cash out refi your property your county tax assessor will quite possibly treat the refi as a sale of the property - which will trigger a re-evaluation of the taxes on your property to the higher value of the new loan… even though you didn’t transfer the property to anyone.  

One option you can look into is partnering with an experienced developer where your contribution to the partnership would be the property.Once completed the partnership would sell the property and the investors would split the profits (60/40?)

But it is the sale of an asset the triggers the tax. 

Being part of a partnership with someone local would help with being a long distance investor.Disclaimer: I am not a realtor.

Hey @Andrew Laurence - the other comment already mentioned this, but ensure that you vet your builder and their previous work quality before pulling the trigger. 

These deals are utilizing either the SEC general exemption for private offerings, a state securities intra state exemption, or a joint venture/equal partnership purchase.