We currently looking at Memphis, seems like a hot spot for cash flow homes, and an area that is within our budget.Our current questions are about forming a Partnership, or a LLC, and what tax implications there will be.This is all a new venture for me, so I'm soaking up a lot of information, and would love to know more!

Is this legal??

Hello All, There are a number of posts about partnerships, but few discuss the nuances of tax implications, especially when one party is primarily interested in this investment for the tax incentives.

I can't provide legal advice, as every situation is different and fact dependent.  

There are legal requirements for PM for most states - - suggest you find the rules before you sink any money into this - - even on a PM Certification.I Calif, a PM must hold a RE Broker's license OR directly work for one.

I don't know the legalities of selling a lease option and how regulators would view that.

What I see people say on here, and what I've observed in my personal life, is that PM companies are highly variable.Same thing with realtors, if you're gonna sell at retail.Are you comfortable with the legal aspects of working in a different state from your home?

(CAVEAT: personal opinion, no legal standing)In Calif, I used a PCOR(preliminary change of recording) andshow sale price 0taxes 0purpose:  Change of VestingThe QC was then declared Grantor, Mr & Ms xyz, Grantee, "ABC, LLC"Also worked for vesting into Living Trust.

Is it Legal to do contract Assignments in Ga?

If so, as a RE investor, aside from the main classes of the RE principles and practice, the program gives us a choice to chose one of these elective classes: Real Estate Finance (2011-04)Real Estate Appraisal (2383-06)Real Estate Economics (3228-10)Property Management (3008-08)Legal Aspects of Real Estate (3192-10)Real Estate Office Administration (3166-09)Escrows (1670-97)As an investor who only wants to sale properties that are my own, what class do you think will be more beneficial to me?