We're in the process of setting up our LLC and drafted a partnership agreement ourselves to outline our roles, responsibilities, and profit splits.I recently spoke with a real estate attorney who said our "partnership agreement" is actually an operating agreement and that a proper, sound agreement would be 70+ pages.

., especially for multi-units.For those successfully operating rental portfolios in the City limits:Compliance Pain Points: What is the single most confusing or time-consuming step in the current Buffalo rental registration or inspection process?

If you can buy a fourplex every year, do some or most of the needed work yourself over the course of a year and build up 20% equity and keep repeating that process every 12-18 months, you'll be financially free in less than a decade. 

Key is ongoing operation of the asset so it doesn’t lose value.Tax Avoidance-  the biggest hitter is the $250k capital gain exemption.  

Would love to hear your perspective since I’m trying to sharpen my process.

“Ongoing Nuisance” Claim — 8-Month Gap“Nuisance” in CA usually means a substantial, ongoing interference.

Quote from @John Stephen Proctor III: Hello, I am looking to get into Loan Processing as a stepping stone towards becoming a Mortgage Underwriter and was hoping to get some advice from people currently in this industry.If you are currently in this field what would you say are the challenges and benefits of working in this space?

I have a great PM who handles the S8 process and works hard to get the highest possible rents in an area.

The ongoing information coming from the Facebook group is invaluable.

But this creates a fairly substantial level of ongoing work for the syndicator to accommodate, hence the high minimums.