I work with investors who use Tenants in Common (TIC) for income property, and the key is to separate the concept of being on title from how you run the partnership.

Before you pull the trigger, have 2-4 contract companies on tap to do the work. 2 of the 4 will no call and no show you, so make sure you understand the time and frustration that comes with getting anything done on the island.

Quote from @Eduardo Cambil: Hey everyone 👋I’m currently expanding my portfolio into small multifamily properties (8–12 units) using DSCR loans.Here’s the type of deal I’m focusing on:Purchase price: around $300KUnits: ~10Rent per unit: $600–$700Light rehab: $50K–$70K maxMarket: Midwest / Southeast (good Section 8 demand & solid cash flow)The challenge, as many of you probably know, is covering the initial 20–25% down payment.I’m looking to connect with private lenders or bridge-loan partners who can finance that gap — ideally interest-only for 12–18 months, secured by the property or a promissory note, until I refinance through a DSCR loan and pay them back in full.I’m also open to equity partnerships where we structure a fair split before the refinance (e.g., short-term joint venture).If anyone here:Has experience structuring this type of creative financing,Works with private investors or firms that do down-payment bridge loans,Or can share contacts of reliable private lenders who work with DSCR investors,…I’d really appreciate your guidance or introductions.

BUT you might want to do a partnership or something simpler because setting up syndication paperwork can get real expensive.

After investing the $18K to join, I never heard from him again and ended up as one of hundreds of participants on weekly group calls—far from the 1:1 partnership he described.After three denied refund attempts, my heart sank.

One is the partnership structure for moving forward.

In fact, it is likely to backfire by creating very significant extra hurdles (like double-entry bookkeeping and commingling prevention) and very significant extra costs (professional level bookkeeping and possibly the need to file separate partnerships tax returns).Allegedly, LLCs could enhance your asset protection, but not being  an attorney I cannot comment on it.

Are you using private capital, hard money, or JV partnerships to fund your projects?

To me, it seems like one of the few advantages of the TIC is more flexibility IF one of the members wants to sell their interest in the partnership AND do a 1031 Excahnge.

Use holding comp and Trust structure to avoid filing spousal partnership returns if possible.