Plan on say buying 10 acres WITH CASH( partnership) THEN USING THAT LAND AS LEVERAGE TO FINANCE PHASE 1: 2 ACRES: 40-50 APT...Once phase 1 completed and generating cash flow, how easy is it to refinance it and remove equity for phase 2 loan?

@Michael Newman regarding your question about how much reserves you should have, a good rule of thumb would be $5k per property.

lets say they have 1000 doors and like most then they are dealing with 25 to 50 turnovers a month.. so there you have that many emails  plus normal e mails coming in..

I will have to look into going to the foreclosure auction, thank you Marcus.depending on area investors kind of shoot for that 1% rule so that would put market value with 950 rent at 95 or so minus repairs.. at least what I have seen in parts of FLA maybe that area landlords will pay more.

If your pet rent was $50 a month, you saved him $1,800 over the past three years and he's repaid you by moving in a second pet!

We are 50/50 partners in our LLC and both contributed cash to the purchase of a SFH rental, which was attained below market value due to a distressed seller. 

I am trying to buy a triplex ( which im going to convert back to a duplex) and behind this triplex is a single family home (for 50 k cash and I am going to fix up). 

Would it be fair for FIL to be a 50% owner with the wife and I owning 50%?

The bigger ones 20+ are relatively few and far between but same kinda rule applies what does sell trades primarily off market.

You Know what they say," never believe 100% of what you have heard, only 50% of what you see and 25% of what you can verify".