Partnerships can get a bit messy:Partnerships need to have contributions between two or more people, sharing in profits and losses Partnerships are passthrough: they dont pay tax, the owners do via the schedule k1 then on the 1040The amount on the k1 is not necessarily a distribution.

When you wholesale and in general the key to being a great real estate investor is being able to find great deals and distressed properties is where to look: financial dirstress being in preforeclosure or underwater on their mortgage, personal distress death in family, loss of a job, or divorce, or poor property condition.

Last, but not least, I was told that Phil is a Christian and a man of God and that he truly wants what’s best for me and to help me because he and I are brothers/God’s children and God is calling Phil to help me.

Our business insurance premiums were $34k+ last year.

I joined last year during the middle of a long 2.5 years divorce.

This is my last set of questions I promise lol.

Yeah that would be crazy that makes sense.. as others have mentioned in your scenario owner carry to me is last resort give it 90 days at least. 

I know some who started their own gig in last three years but have been around for 30 and put a team around them with other experienced operating experience, thus I would invest with them 10/10 times than the person who graduated college five years ago and is already doing syndications.The next few years are gonna remind me of the scene from the big short when he is with the stripper and she is talking about her five homes.

The only people I've seen successfully sued for large sums are the really bad people.I don't know if I posted in that discussion four months ago, but I have posted similar questions over the last 14 years and can't recall anyone saying they lost a home because of a lawsuit.Here's my generic LLC advice:An LLC is useful for two things: anonymity and legal protection.

That's less than what she has payed over the last 2 years...