The borrower(s) may have initially purchased the property as one of the following:a natural person;an eligible inter vivos revocable trust, when the borrower is both the individual establishing the trust and the beneficiary of the trust;an eligible land trust when the borrower is the beneficiary of the land trust; oran LLC or partnership in which the borrower(s) have an individual or joint ownership of 100%.The original purchase transaction is documented by a settlement statement, which confirms that no mortgage financing was used to obtain the subject property.

It doesn't matter if you are an LLC or an S-Corp or a Partnership.

We were fortunate enough to link up with a skilled contractor looking to build a business (which we have done, we own a successful local painting company) and were able to form a partnership that has propelled us years in advance (on the contracting/renovation side) and allowed us to focus on building our acquisition business.

Though, you'll have to make sure you have the details of a partnership figured out before you buy.

I remember our second accountant explaining the high bill saying "its just because you had a lot of activity this year"....you know, activity like purchasing real estate...THE REASON WE EXIST IN THE PLACE.Our partnership had a couple of big transactions, new REP status, new to us cost-seg, asset transfers between entities blah blah blah and we felt much better having a large firm that offered experience and specialized knowledge since we couldn't afford to make a mistake.  

I have a few questions pertaining to buying property out if state and how to structure partnerships.

At the sane time getting into a partnership might be challenging. 

We look forward to a successful partnership with HPE, as together we build a more prosperous future for Texas."

Yes I did offer partnership options I think I'm pretty tapped out other than seller financing and partnerships at this point.

I think the partnership only affects how you market open rentals.