But there will come a point in time, whether it is 10, 20 or maybe 1,000 rentals when the investor realizes that unclogging a toilet is just not the best use of his/her time.

This is contrary to a business entity that works for profit assuming risks in business, NPs are to be serving the public and usually consist of volunteers and citizens who may not have specific professional knowledge, so in the eyes of the law, they get a break.TAX BENEFITS, How would you like to run a business that pays you a fee or salary that doesn't have a tax liability?

We have even considered flipping it after a couple of years for an additional $100 grand or more in the bank.Thanks BP nation for shareing the knowledge.

You can find large numbers of experts from around the world to do many things at low prices and with verified experience.DIY does not work if you are not already pretty knowledgeable.

Manhattan takes some deep pockets, lots of knowledge, and lots of foot work.

The bank needs no knowledge of this so far as it was prior to appication of a short, but should have been mentioned in that application when made.

But you'll either have to draw a salary and pay both halves of SET or you'll pay corporate tax and then personal tax on dividends.If you have significant personal income and rentals, I strongly advise getting a CPA who's knowledgeable about these topics.Even better than doing a 1031 exchange is to die.

I'm seeking more knowledge and looking to network with other investors.

As regards partnerships, that seems to add more to my lack of knowledge - if you know what I mean!

Thanks everyone for coming out, small intimate group again.