Why would you want to file a partnership return instead of reporting it as is where it is owned as tenants in common.If you file a partnership return and have someone else do it, you are likely looking at a $700 annual cost.Reporting it as tenants in common means you report your share of the rental on your individual return and your partner reports his share on his individual return.

I am just starting out here in South Carolina looking to network meet a community of like-minded individuals.  

Consult someone who actually knows what they are talking about/does this for a living, but most of your tax savings are only going to offset the earnings of the partnership rather than one of you individually.

The exit strategy is to sell each townhome individually, since each will have it's own legal description. 

We’ve bought, sold and created a handful of notes but they’ve always been to individuals.  

That Private Individual can be a friend, co-worker, relative, friend of a friend, what have you. 

I created a furnishing list for furnishing a rental property which includes Amazon links, prices that dynamically update from Amazon, and individual and total costs.

You can have LLCs hold individual properties.

So I have 6 individual reports.

Ive always been a very business minded individual.