I’ve been looking into the LLC scenario but not there yet.I have some equity that I would like to capture to use for accumulating another rental propertyNot sure if that helps narrow it down or not

I'm rereading the message to ensure I capture the full understanding!

None of that cost is currently captured in the property managements monthly statements as I have been dealing directly with the contractor and paying him directly.

You will get more monthly cash flow and be in a position to capture more upside IMO.   

Down side is you can't capture the equity if it was sold.

But if you set up video cameras (especially like Ring or others) that record both video and audio, I am sure you will capture a lot of activities and conversations of your tenants

Our plan is to hold long-term (10+ years), with a primary focus on positive monthly cash flow and equity capture through strategic renovations (targeting a 10% to 15% increase in equity above the cost basis), with a secondary focus on properties that are likely to appreciate in value over the investment hold period and tax benefits derived from investment real estate.Right now, we are trying to identify real estate brokers/agents in the DFW area that specialize in 2-4 unit buildings with a real estate investor mindset.

I started this project hoping i could efficiently review the most amount of properties in order to maximize the potential investment options to bid at auction....this is what I have so far.First thing i did was to create the listings, I matched the properties been auctioned with their corresponding pics and the property specs (rooms, size, floors etc.).Second, for each property I automated the data collection process from public records and created a report with: Foreclosure info, owner info, taxes data, liens including mortgages , satisfaction of mortgages,  assigments, violations and permits and court dockets.This data is updated daily to capture new filings (specially the dockets to capture bk and motions to cancel sales)Now that i have the data i can apply my personal "preferences" to go through the report and in a few minutes discard  properties that have certain attributes I "dislike". 

I thought I’d captured the rainbow.

Long story short, over the past week rodent control has captured 3 racoons and 1 possum.