So its a balance of you want to have some equity in the property but also want to make sure you have cash available as well for rainy day.

I had trouble with minimum balance fees at my local bank and it was driving me nuts.  

Since your PMC will collect rents, pay vendors and then disburse balance to you, you only need a separate business account.

They could sell and re-deploy that capital somewhere else where they can use leverage and achieve a much higher return on their equity. 

I need advice on the best allocation of my money and how to achieve this.

That's a fantastic achievement.

There is no trick, think of it this way: you have a principal to pay off ($175k, so you could do 175 months x $1,000) and as long as you do the outstanding balance generates interest.Your mortgage payment is PITI, you always have TI, principal you pay in your own pocket and interest is a tax write-off.But from a cash flow point of view paying one off first is better, because you save both the principal and interest portion, which comes out to about $1050.

My goal is to invest in real estate, and I believe that building relationships with successful and knowledgeable individuals is crucial to achieving that.I'm currently studying to get my real estate license.

In this scenario, each member doesn’t actually own real estate, they own a business (that owns real estate).If that is the case you have two options: 1) The LLC performs the 1031 exchange and continues to achieve the goals of the managers through changes or details added to the operating agreement and subsequently consider dissolving the LLC. 2) You dissolve the LLC and reform as Tenants in Common *prior* to the sale of the property.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $63,750

Cash invested: $13,000

This was my VERY FIRST deal. Had no idea what I was oding.

Bought for 63,750 off ...