Not all loan officers are created equal so if you call up a branch, you are likely to get assigned someone inexperienced. 

Because it equals the total value of the units @ $268,750/unit so something doesn't make sense. 

In order to past this SS test, your appraised market gross rental income at 75% has to be more/equal to your monthly mortgage payment (PITIA).

Sometimes pennies more goes a long way, sometimes more expensive does not equal better quality. 

Who is to say my dollar equals how many equity shares? 

The investors will be LPs, also want equal equity stakes down the line, even with less or minimal initial investment upfront and wanted to see if anyone has selling / talking points to justify that position. 

My preference is that we both own the TX LLC equally.

Price of $325k plus $50k refurbishment equals $375k.

For more insights on investing in such properties in Cleveland, click HERE to reach out.You mentioned putting 25% down in your first post. 25% of $187K equals $46,700, plus you need to account for closing costs.

I would be careful about doing something in an effort to "make positive cash flow".Section 8 has its pros but there are an equal number of drawbacks.