I've lived in Houston for quite sometime, but barely looking into investing.

You should look into Series-LLC and see if that's an option for you - then you don't need to worry about this question, as you can place a property in its own children Series-LLC that you can form when needed.As for distribution, you can have one or more per LLC, and that depends on multiple factors:- property class - you might not want to mix A class property with a D class property in the same LLC, due to different tenant level- cash flow - you might want to keep your cash flow cow separate from the ones that barely produce- equity - you might want to keep the one with large equity in its own LLC while you can group the ones with little equity in another LLC (let's say you have one with 50K equity in its own LLC and 3 other each with only 10K in another LLC, till their equity grows to your risk threshold when you move them out in their own LLC).- number of units (in the case of MF)- location of real estateThe investor has to decide what mix is optimal for their situation.

And people can barely afford good condition properties so flipping is pretty much ruled out.

They are friends of mine and have not put the property up for sale with anybody yet.I would have to put down $475K and finance 1.25 MM My mortgage payments I figure would be over $100K a year barely leaving anything left figuring a 6% 20 year.

And can barely afford to feed my self.

I did go in person and they barely even looked at me and didn’t help me at all.

At a bare minimum, the rental income needs to be at least 1% (2% is much better) of the sales price.

But the vast majority were base hits, or even a few barely break-evens and my share of losers. 

I am fortunate in life, inherited some funds, an watching them barely outpace inflation, all tied up in securities. 

I'm currently saving about 70% of my income monthly because I have barely any expenses.