Posted by JPiper on January 24, 2001 at 10:58:00:
If I were you I’d create an LLC if your plan is to rent the properties. The LLC would file a partnership return, which would then pass through to the members of the LLC. Creating a “partnership” could end up being a real problem in terms of the property if one of the partners ends up with legal/tax issues as an example.
Nothing wrong with your plan, except that most lenders are going to require you to own the property for 12 months before they will look at a cash-out refinance based on appraised value rather than purchase price.