When considering 'break-even,' cash flow is included...it's the overall ROI that the property generated for you during your ownership.  

The city determines whether your investment can meet the three requirements mentioned above.

Add $500k, capitalized improvements made over your 10 years of ownership and closing costs.3.

@Noah Laker Your client should sell the property under her sole ownership without adding the ex-partner to the title, as this could trigger gift tax implications and complicate the process.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

You cannot use comps to determine basis.

They should be able to determine the COC, annualized return, estimated ARV of a BRRRR, accurate rent comps and more.

You have two unrelated questions here.Question 1My impressions of your LLC setup is that having the ownership change over time is too complex with the potential for misunderstanding. 

LLCs are normal for CRE, so you divvy up the ownership interest how you and your capital partner(s) see fit.What's your specific question? 

I had prior MHP ownership experience and all the homes were tenant owned and were about $150 below market.