How incredible is it that I can pose my questions on the BP forums and get such fantastic knowledgeable replies from experienced investors!

The reason I recommend using partnership is to control how the income hits your 1040 schedule E.  

I honestly don't think it is justice for me.www.housingjusticeforall.org/goodcauseIf this goes through basically if you rent anywhere in NY, you have no control of your property and you are allowed to raise rents no more than 3% a year.  

It can be pretty risky doing C-/D class turnkey properties.There's several fantastic markets in the Midwest for turnkey investing, and your dollar buys a lot more there.

@Karl McGarvey wow, that’s fantastic!

If you wanted to work as a real estate agent then it would be a fantastic move, but without that being a desire I'd say there are many more useful things you could do with your time and the few hundred dollars it takes to get a license. 

You can get into trouble if you split up water bills among tenants with no control over use.

I GC myself for the extra income and to have more control over the timelines and quality of my projects, but I do envision a day where I simply hire out all my projects and focus on continually finding bigger and better deals instead of getting bogged down in the minutia of GC'ing. 

It would also be helpful if I can control it remotely through my phone. 

(He very brash and aggressive and wants to control the conversation)My assumption is he’s tried to sell the property before and was offered 80K because he keeps throwing that number around as what he would never take.He claims it’s a 3/2 ranch that’s vacant and sits on 5 acres of land that he owns free and clear of any mortgages or issue with liens or taxes.