@David HinojosaIf you're partnering up with 3 friends I'd HIGHLY advise making sure that you control the major decisions.

Thanks in advise!

The IRS from what I have read no longer requires notification to parties, but in this case my realtor has been advised to make all parties aware of the transfer.

Pretty big step with first rental property.Any advise or suggestions would be greatly appreciated.

My general contractor advised us NOT to bring anyone else into the rehab, but we still went ahead with our decision.

It is very simple for me to say do this do that and I do not sugar coat that advice but you must be aware that implementation requires experience and skills that not every landlord has...For example when I advise evicting and the response is the cost is too high/give the tenant a chance that indicates a landlord without the experience to see long term. 

Your job is to advise them by giving them all the facts, laws, and process for each option, then answer their questions and let them decide for themselves.

An attorney will be able to advise the best type of legal structure to support what you want to do.You want everything to be done in writing and by an attorney, because in spite of what some people think something written on the back of an envelop isn't always going to stand up in court if their is legal president or law making something illegal and as a non lawyer you would have no way of knowing that. 2) You own the property, they carry the mortgage and note that is filed, just like with a bank.

I sat down with another co-worker of mine that is 19 years older than me, and he asked for my advise on his portfolio and what he should do.

Anyone investing with a smaller SDRIA have any advise for me?