Prices have skyrocketed in my area and based off comps, I believe my prop would appraise for around $700k.

Our current focus is working on 1-4 unit fix and flips, but eventually work towards being able to refinance properties and keep and cash flow them.My question is  tailored on the the way I should structure our relationship for the legal and tax base purposes.Should I secure the deals under my business and pay my partner out of my business operating account?

As Melanie noted, true CAM costs (but really NNNs) are billed based on actuals.  

Hi,My father purchased this 2-family house (R5 Zone) back in 1976 in Astoria Queens, and just like many other landlords in NYC he rents out the cellar/basement.I've been reading online the definition between a basement and cellar based on the link below, and I think my father's falls under a cellar.

You can build credit based on how your parents use the card.

Can someone provide me with some financing ideas other than the two that I just mentioned that would enable the other heir to receive cash from their portion of the equity based on its current assessed value and allow me to take ownership of the home, subsequently remodel it, and rent it?

Cap Rate is 0.43%, and Cash-on-Cash Return is calculated by dividing annual cash flow by total cash invested.The property's annual cash flow is $1,268, calculated as $1,268 - $2,932 based on a 20% down payment and a 6.5% interest rate over 30 years.

I am purchasing a house and 2.27 acres of land and from the same seller I am purchasing a second tract of 2.77 acres.

I had a feeling you were doing Padsplit based on your configuration.

We are discussing just selling the home and the entitled land and all our architectural plans etc instead of continuing and building it ourselves.