You will want this relationship documented and memorialized in one of those fashions.So all income and expenses are via the one (joint?)

@John CollinsHi there,We had a Bosnian neighbor that was in the business and I think we paid something like $1800 for labor/materials on the installation, for something like 26 sq feet if my memory serves.I don't know the brand on the material. 

I found that the IRR formula was exceedingly complicated and while I could use a computer to find IRR, I dislike following methods I can't understand.

However, I work for a client that set up a remote desktop and dedicated computer for his QuickBooks Desktop. 

Definitely do not use apps for this...they are using computer algorithms that are usually wrong - get the real numbers if you're serious about this.Use any good CPA for your taxes, have a meeting before you get started so you can keep your books correctly, etc....

They don't even own a computer!

Two people agreeing on terms and fine with the document that memorializes their agreement do not need an attorney.

Man this brings back memories of my first deal. 

This is something I learned during a real estate license class five years ago, so you should double check my memory before calling this fact.Potential workaround: Placing the portions of land that have vernal pools under a conservation easement could ease your tax burden (which is significant in Maine).

Finally got to an actual person and conveniently her computer is down and she gave me the impression she was in a hurry to get rid of me.