Question for all the wonderful people who contribute to this forum.

I definitely see some tax savings available to you, but would need a better understanding of your business before I could really make any recommendations.Check out my profile and send me an email to discuss as I'm not on Bigger Pockets regularly these days.One thing to be aware of is that as an LLC or Sole Prop, your retirement contributions for a SEP are based on your total profits, so you can really maximize your SEP contributions with that structure.  

The simplest way I've seen is that you create an LLC, each making capital contributions, and you have sweat equity, if no cash is coming out of your pocket, as your contribution.

To buy them out, we plan to obtain a mortgage and pay them their remaining contribution (excluding their previous monthly payments) with 15% interest on the remaining balance, compounded quarterly.

To buy them out, we plan to obtain a mortgage and pay them their remaining contribution (excluding their previous monthly payments) with 15% interest on the remaining balance, compounded quarterly.

I am fairly new to BP so I feel bad asking for a favor when I haven't contributed anything to the cause.

A beneficial owner may acquire its interest through the contribution of cash, property or services rendered or the promise to make such a contribution.

My Questions of the Bigger Pocket Forum Contributers: 1.

I don't think you can claim rental expenses on space you're living in yourself, even if your girlfriend is contributing to the costs!

In addition, the new mortgage rules have made it more difficult to obtain a conventional mortgage, which may have also contributed to the increased demand for the relatively lower-priced high-rise units.