Unless you have a corporation or partnership any of your "business taxes" will be on sch c of your 1040 .

You and your friend need an attorney to set up a professional partnership agreement and you need to run the investment like a business period.How much money do you have to put down between you and your partner??

I ended up with a single investment left in my account with them, for a partnership in a mini-storage.

If you also have a portion of the equity of the LLC, then the LLC would file a partnership tax return and give K1's to both you and your parents.

The entity then distributes returns to the individuals, files a partnership return and gives K1's to the individuals.

Simple put: Disregarded LLC is best; however, if you are operating with a partner either a C-Corp or partnership are usually best.This is only pertaining to rental income.

Partnerships, Accredited Investors, HMLs, so please chime in.

I was thinking of an actual partnership, in which two partners are active, you pay yourself some minimal salary as a full time employee and then the rest is paid via quartlery dividends when paying yourself.

I have been involved with real estate investing since 2011 and I am looking to learn more from this great resource.Along with my wife Jana who has her broker's license we have closed a number of assignable lease option deals together and are almost finished with our third rehab in partnership with our brother-in-law.I have been in the construction industry for over twenty years a an electrician and I am looking to use this knowledge to get full time into rehabbing and wholesaling as well as acquiring properties for the long term for our retirement.

This is also a partnership with NY State as they received grants to remediate the site before construction began.