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Most of the proponents of such partnerships tend to overlook the possibility of the IRS seeking penalties for what is called "enabling."

I have two main goals in real estate: 1) to learn how to wholesale effectively so that I can generate quick cash with confidence, but without the added hassles of taking ownership. 2) To ultimately build a portfolio of properties that generate passive income and enable my family to enjoy our lives my thoroughly.

Says Rowling: "If you have real estate as a supplement to an investment portfolio and IRAs and other retirement income, then that can be a very good thing."

Currently my goal is to gain experience while supplementing my current income.

In the next few months I'll be starting to put a team together; I'm looking at the Cincinnati or Dayton OH area for my first property.My plan is to use REI as a way to supplement my income (my day job is physical therapy) and build a nice RE portfolio to allow my family to travel and retire by the time I'm 55.I want to thank everyone who contributes to this site, the information on here is awesome.Look forward to connecting!!

I had the income from the duplex and also did a flip on the side to supplement my income.I built my first house in 2007 in Baltimore actually but it was more like, I was a corporate employee of 12 years, I wanted the nice house with the picket fence, so I built it. 

I was considering a third purchase- out of state turnkey property, short term vacation rental, SFH, codo, etc then I started doing some thinking...My ultimate goal is to own enough property within the next 5 years to supplement my income and cut back substantially. 

This type of behavior is a fluke, but it was enabled.

I want to learn from the best and really build a professional real estate investment portfolio to supplement my income and provide more financial flexibility and time for my family.