I apologize for the unnecessary confusion and stress.

Wanted to make sure I wasn't taking an unnecessary risk by putting my own cash on the line.

Make sure you understand the rules associated with raising money so that you don't take on any unnecessary risks with the SEC.  

And I agree with you that subdividing your property is probably an unnecessary step that would be overkill and be a lot of headache/more headache than what you need.

I think anything more is unnecessary.

A multi that is under managed, not up to market rates, paying unnecessary expenses like the water bills, when viewed from an income approach will be under valued.

The last thing you would want is the hassle of taking over an unfinished or unnecessary project gone bad.I wish you luck! 

I have a tenant applicant who asked if I would consider replacing my existing washer and dishwasher to an energy and water saving model.They are willing to pitch some $ in.In my case, the washer was practically brand new (3 months) and the dishwasher is on it's last leg and perhaps could use an upgrade.Have you guys done this and do you shoulder the cost 100% as a courtesy or do you somehow split the cost in some way such that they enjoy the newer appliances but you don't have to incur unnecessary expenses?

That is why prudent partners start with a comprehensive agreement in writing spelling out the targeted activity, targeted markets, goals, price ranges, and mechanisms for dissolution in the (hopefully unnecessary) event that dissolution becomes necessary.

No unnecessary debt.