Good that it's not a more expensive mistake.

or is it just too expensive?

If it is just the business and not buying a building or the land beneath it then it is not generally a real estate licensed activity.You need to check for each state what is or is not required.You could go on a site like Rocket Lawyer etc. and for a nominal fee ask the question.In commercial real estate transactions you can generally have consulting and other fees on the HUD-1 as RESPA does not typically apply.To look for more businesses you could look at bizbuysell.com  Sellers typically want 3 times gross profit earnings so if 100k a year after expenses they want 300,000.

By forming an LLC it is slightly easier to account for expenses to offset against your income.

They would then have zero income and have property expenses.

I earn more than average (around here) and did not yet buy my own house because I felt it was too expensive and just not worth it, especially as I do not have my own family yet.As such, at the price of one house here, I can buy even two villas, or a few smaller studios over there.

Hi everyone,I am just starting to look into partnering  and have just be overwhelmed with everything, so what better way to get answers then from BP!

Let's say you could buy a turnkey property for a market value $67k that cash flows at $400 a month after all expenses.

A party-wall agreement is put in place that covers the cooperation needed by the two owners.Since land is so expensive, I've seen folks buy a $400,000 SFH on a lot zoned for duplex, they scape the home and put a new duplex in place.

Seattle is expensive but I plan on relocating anyway when I pull the trigger, so I'd have less expenses.