Cayce,I think it is best you seek an attorneys advice on this, it would be worth the $ for you, if you think of doing it. i Partnered with my brother just recently on a rental property, but we partnered going into the deal. we have an operating agreement written up and signed on how things will run and how expenses and profits ( if any ) are split. i understand that he refinanced and pulled his original investment out and that you are splitting the equity that is left. is the IRA going to be responsible for 1/2 of the 200k mortgage now ?

im 65 and all of my properties are my age or older. me and my buildings are rocking. do not worry.

I split my time between LA and San Diego.

We would split up the units evenly and once the units are split, the owners will be able to choose what they want to do with them, whether it be rent or sell.

I am currently working with Red Rock Mortgage in West Des Moines.  

Just seems to work better math wise but honestly just splitting hairs.

I'm stuck between a rock and a hard place because even though I plan on using cash for flips to continue to build working capital I still want to be able to place tenants in some buy and hold properties to generate cash flow and then cash out refinance to keep rolling the money over into new properties in order to build up my portfolio.

Could split up the larger and smaller stuff but the larger properties still seem beneath Fannie Mae level individually.

You could own 50% of the LLC and let the lender and your fiancé split up the other 50% however they want--but now you have the added complexity of doing an LLC tax return and issuing K-1s which is likely more complex than you want.

You seem to be experienced and knowledgeable and I'm stuck between a rock and a hard place trying to figure out how I can move forwards.