Investors were doing the same thing.. you had plenty of bay area folks with great fico and could make payments, but back in those days you needed 10 to 20% down so you really needed 50k to 200k in cash to buy a home.. so investors swapped the cash for 50/50 on the equity although the folks that I knew that did this had a 5 year time line to refi or sell.. depending on the cycle you can hit it big or it can be a bust but I would think if its a bust then the equity company just extends their contract instead of taking a beating. 

If you don't have the income over the past 2 years on your tax return I'd look at whether you are really ready to invest, could you pay all the bills if you had an extended vacancy?

I will never lend more than 9 months, penalty's and increased rates are built into the contract if a borrower has to extend for a year. 

@Mark Miles I rent the condo on the extended stay market not the vacation rental market so I'm collecting information far less frequently. 

If the number of enclosed acres exceeds 160 acres, peaceable and adverse possession extends to the real property actually enclosed.

Extended time in the market put me in a great position to begin investing in RE and a pillar for the wealth I have to my name today2.

Account ClosedIt looks like you will need to file a partnership return since you have an LLC with 2 members.The return is due March 15 with the possibility to extend to September 15.I agree with others, if you are looking for a local CPA, you may want to reach out to other investors in Sacramento and ask who they use or attend a local real estate networking event and see who they use.Once the partnership return is filed, a K-1 will be distributed to you and the partner which will then be used to complete your individual tax return.

Purchase price: $130,000 Cash invested: $32,000 Sale price: $259,900 3,400 sqft house in neighboring county that was purchased from a beautiful seller who had a bad experience with a wholesaler continually extending a contract they couldn't seem to assign at 279k.

In my state the tenant is responsible for protecting the property, notifying the PM of extended absences, and keeping the heat on when it is freezing.  

The rule change was supposed to go into effect last Friday, but they’ve postponed it until end of the month in order to extend the public commenting period (see article linked below).