How to build A Condo of Two Units (San Francisco Bay Area)
My friend and I found a residential lot allowing duplex. We would like to pool together money to build a duplex and each owns one. I am wondering what is the best way to do that. Do we need to create a company to buy the land, build the structure, create condo legal structure and then "sale" the condos? What is the  tax implications? Thanks!   

Edit: I meant Bay Area. Not exactly San Francisco. It is actually in the East bay . Hopefully people in the east bay are a bit nicer. 
[{"id": "e81iuef", "text": "I'm a bot, *bleep*, *bloop*. Someone has linked to this thread from another place on reddit:\n\n- [/r/realestateinvesting] [Build a condo of two units. Please help.](https://www.reddit.com/r/realestateinvesting/comments/9pg3hj/build_a_condo_of_two_units_please_help/)\n\n&amp;nbsp;*^(If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads.) ^\\([Info](/r/TotesMessenger) ^/ ^[Contact](/message/compose?to=/r/TotesMessenger))*", "replies": [], "depth": 1}, {"id": "e81jn0w", "text": "The first step is to not do it in San Francisco ", "replies": [{"id": "e81szxv", "text": "What is the per sq foot cost there?\n\n&amp;#x200B;\n\nI mean I would consider doing it where I live if I had any friends lol. I'm actually considering my first development, but I'd imagine the compliance costs in SF are probably redic.", "replies": [], "depth": 2}], "depth": 1}, {"id": "e81lylz", "text": "Just build it. And each owns one of the units.  You\u2019ll need to create some sort of agreement on how shared decisions/expenses workout.  That part is very simple ", "replies": [{"id": "e81o8bj", "text": "How about borrowing construction loan? Can two people apply together or do we need to form a llc?", "replies": [{"id": "e81og66", "text": "Sorry I thought you were pooling money to build using all cash.   Ya imagine you would both apply for the construction loan and they would understand that it would be two mortgages that take them out.   As long as you both are well qualified but it is a bit trickier. ", "replies": [{"id": "e81t0k1", "text": "Could easily do it as one mortgage with two co-borrowers.", "replies": [{"id": "e825x9b", "text": "You could, but maybe not a good plan long term? If you\u2019re neighbor (currently friend) gets into financial trouble or wants to move, it would create challenges. ", "replies": [{"id": "e82dn4m", "text": "Completely agreed, that's just asking for trouble tbh.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "e81mw14", "text": "Are you related to the mayor?  Otherwise I would not bother in San Francisco.  Your condo may create a shadow on someone's parking space for 10 minutes per day, and that will take 5 years and a million dollars to get approvals.", "replies": [], "depth": 1}, {"id": "e81n7qr", "text": "Step 1: Win the lottery...\n(Land in SF haha) ", "replies": [], "depth": 1}]