Updated over 6 years ago on .
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Not Married but want to co-own rental
Hopefully a new(ish) topic.
My partner and I have been together ten years. We’ve been living together for 6 or so, financed a car together, and have intertwined finances.
We want to buy our first rental property, but are stumped as to how to mitigate financial risk (say through a joint llc) without making our taxes an endless nightmare (schedule E and 1040?).
Are any others out there in a similar scenario? Does insurance negate the need to protect personal finances through llc? What other options are available?
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@Case Stiglbauer
What are your finances like, for both of you? House hack a 2-4 unit on fha loan in your name only. Live there 1 year. Then do the same thing in her name only. Two fha loans. Cheap money down. Write up legal docs, notarized, for inheritance purposes for all properties, to protect each other.