Been looking at a little house with a "mother in law cottage." 

I got into a partnership with a friend while in law school and it helped pay for my education, but at the end of it I realized how fortunate I was with a good partner and solid investment.

Underwriter took the position that it looked like dad-in-law might be dummying up paystubs (or giving him a giant and real, but temporary, pay increase) to get his daughter and her husband out of the basement, and refused to use anything but the lower number that was on tax returns for husband's income calculation.

Depending on your states law, give a notice it’s going to be viewed.

I did not know, living in Florida, about the  California Foreclosure Prevention Laws which have increased the time and the monetary cost of foreclosing on property in California.

@Corey Law I wouldn’t do it as you pay high income taxes in California and high property taxes in Texas.

We frequently provide value to the forum by answering questions and posting updates to the tax laws they relate to real estate.

If they are in foreclosure at the time you buy the property, that business model is against the law.

Partnership tax law allows very flexible income/loss allocations. 

According to the law Qualified Opportunity Funds (QOFs) can be established to channel investment into businesses or development in these under-capitalized Opportunity Zones, mostly in low-income or transitioning areas.