You've given me some solid pointers/items to take into consideration for future deal analysis, so thank you for that.

Analysis of current tenants and future potential tenant market.  4. 

If you want to run your investment like a business you 100% need to establish a solid screening process that makes placing tenants in the future easier.

The objective is to keep as much of your operating capital intact as possible.The goal is to buy, fix, finance, and avoid leaving cash in the deal, so you always have liquidity for future projects.

If the partner wants to get a bigger cut on future deals, they can save their money and buy into a larger percentage on the next deal.

Will we ever use a PMC in the future?

This is the BEST $100 you will ever spend, and if you listen to Amanda Han's tax book, you'll know it's also likely a business expense for you to write off :) https://biggerpockets.supercast.com/My perfect way to learn from the BP books is to listen to the audio book through the subscription above, then books that really stand out to me I go old school and get the physical copy so that I can re-read it, take notes in the margins, and put post it notes so key points are easier for me to re-reference in the future.

From there, I would like to consider a 1031 exchange in the future to acquire more units.My current property management company suggested that they could handle a mid sized apartment building but I would absolutely not consider them for it as I believe they have overextended themselves and communication is lacking.

Since we’re in the early stages, do you have any tips on building meaningful relationships with lenders or private investors for future projects?

However, this could limit your ability to complete a future 1031 exchange with that property.