The kind of revenue you are wanting to "net" is outside of what I have seen in Destin, PCB and surrounding areas.

I use that an excuse to go inside every single property every three months and the tenant likes knowing that they get a fresh air filter.During those filter swaps you can find out if they are messy, cooking meth, growing pot, or damaging the property and get it taken care of before it turns into a multi thousand dollar repair. 

The net is around 300k per year.

The tenants seem so stereotypical: my tenants complained that one squawed at them for having an old truck, I smell pot flowing from the property a lot, they rarely do yard work so it looks bad, act like a much of hippies, and have a rock band!

Also the type of lease maters, triple net is more valuable.As for your second question I would assume your partnership agreement states that all members must be bought  out or can buy in at market value determined at the time of the transaction.

the closer you are to urban/industrial centers the better for longevity but ultimately youll want to look for gentrified neighborhoods in areas with YoY positive population growth and stable work from fortune 500 companies. but 150-200 net is not bad.. if you dont feel like you need to carry a gun every time you collect rent :)

You just need to recognize that if there is an issue with any property in the LLC, then essentially all the properties are part of the "pot" if there is a judgment - the liability attaches to them all.

We use POTS.... plain old telephone system... so we can have a real time conversation with prospective renters.

Shoot me a DM and I'll give you his number (BP won't let me pot the number).

by half the profit you mean his commission would be equal to half of what your going to net ?? IE