If you also have a portion of the equity of the LLC, then the LLC would file a partnership tax return and give K1's to both you and your parents.

In order to participate in a fractionalized note, each investor must meet certain qualifications and one of those qualifications is that the amount invested does not exceed a specific portion of net worth/income.My broker does qualify each investor and this is why I am compliant in all regards.

If I was able to move them to fixed it would remove a portion of risk from the equation.

If you aren't going to use the agent, but need their services for comps, etc. explain that and ask what they would charge for that portion of their services, etc.

I am trying to decide if my first investment property should also be my primary residence (Specifically, a multi family in NYC or NJ that I can rehab and rent a portion of.).

As to the land portion, adding that in may in fact make this a great deal.

My question is, do I have to give her back a portion of her rent?

If you have good planning and are not in a situation where you have to make estimated quarterly tax payments (and are doing 3 flips a year) you may be able to roll it all over a couple of times and then pull the tax cash out from the 3rd sale.But from the sounds of it, you will be making estimated tax payments in year 2 so you are back to holding back a portion of the profits from each sale.

I would max the matched portion of the 401k and if you are eligible, max a Roth IRA for yourself and your spouse with any additional funds you can save toward retirement.

A large portion of the work you will be doing when she does leave will fall under the normal wear and tear category, so you probably wouldn't be deducting it from the SD anyway.You got an $8k discount on the house.