The only time I have experienced cons in partnerships is when there were no expectations of who is going to do what, or what the payouts will be.

Before you sit down and speak to an experienced investor, it would benefit you greatly to do some research here on BP (for free) to learn the lingo, the steps, the formulas, etc.

@Greg Reese you have provided us with a perfect example of why you should have your own experienced agent representing you in a real estate transaction. 

I think we got lucky too, as our place is walking distance to the elementary school and the schools in NW Reno in general are pretty decent (I don't have any first hand knowledge on this just going off what what we are experiencing now). 

Hire an attorney experienced in real estate.

You should outsource what you feel uncomfortable with to an experienced professional such as a property manager.

Hello everyone,I am an experienced new construction and remodel Residential Contractor looking to connect with partners/customers.

So I’m an experienced investor, just need help navigating California’s laws.

Though I have not experienced this being the case, I can appreciate why this belief exists.5.

When you exit a deal, what normally ends up happening (like Tom Brady keep winning more Super Bowls) is that you go into two more deals (with now double the amount of capital) and you will likely find that with those new K1s you could result in you having way more passive losses you began with If you can see where this is going... yes, experienced investors with a lot of capital deployed might have 500k-1M+ suspended passive losses and have not paid taxes in years and do not appear to pay taxes for years!