Seeking advice here on the best approach, any gotcha's that I'm missing, and overall sanity check... My business partner owns a residential property in Seattle outright (the title is in their name and they paid all ca...

Qualified Joint Venture reporting is not available in this situation.

Consider it a real estate GPS.Now, let's tackle the big question when it comes to scaling a real estate business: joint ventures (JVs) or syndication?

We are now married and I expect we'll file our 2024 taxes jointly.

For your next step, you might want to look into seller carry arrangements and joint ventures.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

Have you considered creative financing options like joint ventures or seller financing to reduce reliance on outside capital?

If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.

I'm not sure if the contractors are trained to exacerbate every single problem or not.We recently discovered asbestos in the compound joint.

Run by Dutch Mendenhall and Amy Vaughn, they solicit hard money loans (which they do not pay back) and joint venture real estate deals which they also do not pay back.