Is there a way to do this legally that would provide a tax benefit?

I have one partner onboard who’s providing quite a bit of capital.

I don't have a general warranty deed so therefore  I can't provide only.

Both conversations are going to provide you with a better understanding of the need and requirements prior to getting too far down the road with negotiating a purchase agreement with a property owner. 

You haven't provided enough information for people to help you here.

You can potentially find undervalued properties, rehab them efficiently, and achieve good rental income.Decent rents: $1000-$1600 rents provide a strong foundation for positive cash flow after factoring in rehab costs and ongoing expenses.Cons to consider:Market competition: Investigate how many other investors are using BRRRR in Wichita.

Some places require the platform to report days rented to the city, and I have heard of forbidding platforms from renting if X days exceeded, on penalty of losing permission to do business in the city.You also have to report your activity to the city, and may God have mercy on your soul if your report doesn’t match the rental platform’s report.

If you go that route, with the purchase prices in Ohio, you could probably buy a few multi-family homes and rent them out to provide a solid cash flow.

Whenever I send a message regarding rent terms or lease information, it is a given that  we hear arguments next door.I am considering soon placing a penalty notice on his door for "failing to communicate by the deadline I had provided him with (end of Feb)."

Based on my research on the property can the forum please provide some guidance.Basic Info:  Purchased at auction for for ~$5000.