The most recent sale in the area was 28k one street down a month ago.

My partner and I looked at a property on a fairly major street in Woodland Hills, CA over the weekend.  

He still said no, but told me that a house just up the street had been for sale for over 6 months.  

We form an LLC (or TIC if that is better) and I do all arrangement and he gets t still share profits with no active work on his part?

Hello.I have a duplex where I live on one side, and rent the other side on short term rental (considered as an active business for the IRS). 

@Joel SchanbacherThis appears to be a tricky question because this doesn't happen to often.I would do the following if I was working on it.I would report one activity on Schedule E for the property that you have listed.Report the income/expense items ONLY when the property was listed as a rental property.In regards to depreciation - I would list the asset during the year that it was a rental property and then I would "retire it".

Good evening everyone, I own a new brokerage in Boston MA  and have been trying to expand my rental team (huge business in rentals around here) more actively in the past few months.

The house is 3912 Webster Street North Brentwood Md.

Neighborhoods can vary a LOT from street to street.

First of all, it is Hemp, (not Cannabis), Hemp does not have the psycho-active ingredients that get you 'high'.