I am also a relatively new member to BP, and I am looking for the same thing (multi-unit in Central/North NJ).

I'm currently looking at a triplex in the same area that I am investing (Central valley of CA where I grew up, currently work as a Trauma nurse in the Bay Area of San Francisco and there no way I'm investing up here). 

As downtown LA continues to build expensive luxury apartments it will push out those how cant afford it into the surrounding areas such as Boyle Heights, South Central LA, and Inglewood.

I am in search of others who have interest or who currently invest in the Susquehanna River Valley of central Pennsylvania.

I recommend south central Wisconsin Apartment Association’s lease.

I have found it somewhat difficult to find multifamily units in the central Florida area that are not in bad neighborhoods. 

I’m in a major time crunch to get property insurance on a motel in central Michigan.

I just bought a 3 family house in Central Ct with Fha as my first property.

., The central basic issue that can't be overcome with your scenario is that A LLC already owns 50% of the land. 

@Jason DiClemente you put it well and I don't dispute the general validity of that central point for a given property.