I can simply just use my name as the limited partner with my only exposure being the amount I invest correct?

Wes is correct.

If the cost of the inexpensive car is less than the taxes you expect to pay on the 179 recapture, then (solely from a monetary perspective) it may be better to pursue the inexpensive car for personal purposes route.

Cash would be $159kI would need to discuss this with my attorney but the nuts and bolts would be $184K purchase price, 7% interest only for 10 years with 20% down.I’m looking to make sure my formula is correct but would like for members to break this down.

If I understand depreciation correctly the renovation is being depreciated at 1/27.5 a year.

Thx @Josh Engelhart, sounds like there is really no way around this, or it may be way too complicated if I go the financing route. 

Hi David, apparently my last post was solicitation, so let me correct that by saying welcome.

I might have wasted money forming that LLC...Another section of interest seems to work against real estate investors who want to lease their own properties from getting a real estate license in Virginia because the investor would have to be under the supervision of a broker while they are a licensed salesperson (at least three years) despite owning the property (if I am reading this correctly):"D.

We had so many issues with correct payments, insurance fees, etc.

He suggested ejectment would be the correct approach as there is no lease and it is not a holdover tenant.