I will sell it to him for $1He agreed to pay $12,500 in 12 months to cover the money I have invested in it ( Down payment)  and some 3,000 Profit For MeHe also agreed to pay all the utilities, and all repairs, damages that the house may need, now and later.  

Then profits straight through.

May as well make a profit for your additional work load and expenses.

Or would you recommend waiting to find a deal where you were making a small profit after mortgage, insurance, and taxes?

Or is the only way to delay paying those taxes is to 1031 those profits into a larger property?

Is signing leases and then trying to make a profit through Airbnb a thing?

Sometimes, I notice that people who are doing their first deal focus more on the profit from the deal verses learning how the profit was generated. 

I'm going to see how many I need to build to make sure I can have a decent profit immediately

Hey @Sean SloopIt's in your best interest to have your relative having their relative equity documented on the property or LLC.From an IRS perspective, suppose you both contribute $10k and there's a total profit of $14k ($7k each).

The 50/50 partner has a chance to make a lot more money but stands to lose in case the deal fails.In the debt partner scenario, the investor is agreeing to a smaller part of the profit but is expecting to get 100% of their investment back plus interest.I used too much leverage on a fix and flip four years ago and lost a lot of money.