The taxes are exactly the same and if you compared the two side by side, there would be absolutely no difference between a sole proprietor and an LLC except that lines C and D are filled in on the schedule C with the entity's name and EIN and the LLC will have an additional expense each year of "Business Licenses and Annual Filing Fees"There is nothing wrong with a disregarded entity and there's no reason to go to extra lengths to have it file its own tax return, but if you're bound and determined, here are two options.1.  

And truth be told when people add their time into the equation for such a property the hourly wage achieved through effort is very nominal.

It'd be great to see what li dog ROI the extra 3rd story yields.

Using 8 points, I will provide clarity on what is truth, and what is misinterpretation by the media of industry statistics. 1 – Appreciation Most people are obsessed with analysing average property prices, and how much they have increased – that is virtually irrelevant – the yearly appreciation is the number to watch.

And 1 extra to hold security deposits.

The buyer would have to pay the extra 10k.

I'm an educator from NYC with a family in tow looking to produce a little extra income (alright, ...maybe a lot extra) during my off time, and I've been browsing around the forums and blogs.

And the city may allow you to split it "in house" without having to take it through the full subdivision planning rigamarole since it will only be 1 extra lot.  

Banks generally will take 70% of gross rents and compare that to his loan payment.. so if 70% of gross rents was $1050, and his payment was only $500, it counts as extra income on the debt ratio...

You say partner and you don't have an excuse because he's a partner, he then can have legal liability for your actions, until he shows he's not a partner or you acted outside the scope of your "partnership" agreement.Deceit may make your markets efforts easier, so will plain lying, put more thought into your transactions and try the truth, it works every time. :)