Just a counter perspective to contribute here.  

I've certainly read enough on the forum, so I thought it was about time I (hopefully) contribute something. 

My contribution was 150k.June of 2019, I sold my 50% share of the LLC to my partner for $250k (building was not sold).

@Eric SchraderSometimes its best to keep things simple.creating notes/loans between yourself and your LLC can create some nuances. 1) Potentially having to issue yourself a 1099-INT at the end of the year2) Potentially reporting the interest income as taxable but the interest expense getting suspended.3) Potentially having to have someone draw up the loan documents4) etcPersonally - I would just contribute money into the LLC and distribute money out of the LLC without any loan stuff.

Our role in contributing to a healthy society differs from our role as investors.

Hi all, this is my first post of BP but I have been learning a lot daily from the blogs and Podcasts so I thank everyone for their contributions!

For months, i dropped everyone in my life who wasnt contributing to my sucess.. friends that is.

When future expenses come up (taxes, utilities, etc), I cut a check for 50% of the bill and my partner cuts a check for 50% of the bill.So my question: if my partner only wants to contribute 250k and no more, can a TIC agreement be structured in such a way that percentages will change as expenses occur?

That's both very common and absolutely allowed under 1031.Once you complete your 1031 then you can work with your accountant to contribute the property into an LLC entity if you wish to own ongoing.

The money that your friend gave you is his contribution to the partnership.