---CLICK HERE FOR THE THREAD---Mainly sharing for the newbies/people afraid to get their feet wet. 

I wrote the above for informational purposes.

IF you qualify for the SOLO401K (must have self employed income as the main criteria) in MOST cases they are better; larger contribution limits, easier to leverage with less paperwork involved. 

For tax return purposes, if you pay him interest, he needs report as interest income on his tax return.

Also, I would appreciate any advice for how to show a house that the tenant is not keeping in good share (mainly pretty filthy bathroom conditions?)

Rental real estate often generates losses for tax purposes even when there is positive cash flow.

If he's still going to make the mortgage payments for the next 6 months until he buys her out and gives her enough money I'm assuming to be able to some how qualify for the refinance, or some other purchase, then I'd tell her to wait.The main thing is if she can't afford the mortgage now, how is she going to qualify in 6 months from now? 

Overnight the ceiling in the main floor bathroom of our four plex collapsed due to a water leak.

Glad to hear a nice comment about SF and sounds like you might have dealt with claims and hopefully nothing drastic resulted from any one of them (I mainly regret placing one for a small loss but live and learn). 

This allows you to isolate the single note to easily determine profit or loss.Separate QB files may have to be consolidated for tax purposes, but that should be far less frequently than reporting to JV partners.That’s my “solution”I hope it helps.