It's not clear in your post how heavy of a lift these entitlements are but assuming value is being created before a shovel enters the ground the initial LP investors will want to be compensated and share in the upside that's been created.

Quote from @Mark Sullivan: Quote from @Tim Delaney: One missing piece of info here is how much cash you have available to invest at the moment.My initial thought was sell LLC B and hopefully you have a few hundred thousand available on top of that to buy the new building.

In terms of creative ideas, you could look into leveraging that construction experience and partnering on a deal to ease the initial capital need.

I'd be seeking someone to fund the down payment of the deal and I would be responsible for property management/bringing in funds for initial renovations for a profit/split.

My initial reaction is that it costs $150,000 to add an extra door in a premium location, but I am interested to hear thoughts. 

With 400K my initial thought is doing a BRRR/Flip that is close enough for you to be hands on.

It is easy to initiate a trustee-to-trustee transfer between firms.

But for the most part, we have divided our properties as we initially had planned. it was great working with him.

You might consider hard money for the initial purchase or going with a DSCR type lender if you find something that is more turnkey.Hey!

I would start with them.I am not based in LA, so I don't know your exact laws, but I think I can still provide some initial direction for you to find answers, and maybe offer an idea to research.