This past year was my first year and I've learned a lot, but still just barely broke a profit, and not a big one, either.

Perhaps offer a guaranteed interest rate on their money prior to you taking a profit, than an equitable split on exit.

I look forward to speaking with, meeting and creating relationships with many of you here in the weeks, months and years to come, learning from the experience of and contributing to the success of others via meaningful collaboration as well as successfully fulfilling short and long-term REI goals that I've set.To an amazing, tremendous, exciting and profitable string of future yesterdays...

The CPAs I talked to mentioned it would not offer benefit with LLC due to it needs to be maintained paying $800 fee plus a tax of percentage of "Gross sale"(in this case total dollar amount of the property sold for, not profit I made on the sale), he said it's roughly $2500 for $500k property.

By the end of the project I took a small portion as my compensation about $28k (which is specified in the LLC agreement as a percentage of profit before capital distribution).

Problem is I found a property with 1 pic online, numbers look great online...actually has a tenant currently paying $650 which still leaves me about $300-$350 profit/month.

HML's, in my opion have a bad reputation due to the lack of professionalism, honesty and integrity of those who basically enter the arena with a sence of ruthlessness about profits driven by greed than any public service, not all, but enough to taint the barrel.Wearing a suit doesn't make you a professional, neither does a bank account, a college education or having an office.

Rents around $500 are where that rule seems to work reasonably well, so at $600 - close enough.total monthly gross rents / 2% = 50 times rents => 50 x 2400 = 120Kfrom that, subtract repairs: 120K - 50K = 70KMax offer would be 70K, so start lower.Lots of other analysis formulas that could be used - the point is to try to get a number you'll be comfortable with paying so that you are almost guaranteed to be profitable (can only be profitable if good paying tenants are placed in the units).

However, many times having a money partner means you have to split the profit.

Please have a profitable 2013 and welcome the the US.