One slip is like renting an 6' (3' on each side) X 20' deck on floats anchored.....we will see....I just mess around now, having partnership interests and note/conduit relationships with seasoned business folks, those I have known for years.

Could we set it up as a partnership with specific buyout time frame.

This is under a separate single asset holding partnership with only our managing partners and a couple of their family members having stakes in the deal Originally posted by Joel Owens:How old is this building??

As a multi-member LLC you will be taxed as a partnership (unless you elect corporate status, which I don't recommend in the case of buy and holds).

As example, the valuation should contain extensive detail if it values a limited partnership interest or a closely held corporation.

Jeff, If you don't want to go to the property, perhaps you can form a partnership with a local handyman (one that you TRUST) and setup an arrangement for payment.

You might want to think about a partnership where you bring him leads to research and make some kind of financial agreement on the front end.

I have found a potential partner to purchase a triplex with, and looking for ways to write up our partnership agreement.

Remember though, each entity (LLC, partnership C/S-corp) will cost you a minimum of $800 each per year in California.

My wife is in charge of the staging in our partnership.