If you are looking to just do some cosmetic upgrades, you are going to search out a property with good "bones" and mechanicals that do not require major CAPEX items...like roofs.

Overall, the complexity associated with assuming ownership of 1/6th of an existing partnership seems quite high (unless the LLC bylaws already provide a mechanism for transferral of ownership)?

Someone recently posted their LTR got broken into between tenants and lost $6500 in appliances and mechanicals.

By trade im a fleet manager being a mechanic most my life.

I'm Mechanical so I'm guessing an HVAC engineer might be useful.

You may wish to confirm that the new 401k provider has experience with the particular investments in which you intend to invest your retirement funds as you very likely will have questions in terms of the mechanics (e.g. how do you invest in real estate, etc.).3.

However, my question is, what are some of the mechanisms to reduce or offset this tax burden?

Roof, mechanicals, pool liner, etc.

We generally expect to completely redo all the mechanics and replace all the windows. 

Unfortunatly this is a 40 unit complex , there is a high probibility the mechanics lien will attach the entire complex .