My rule of thumb has been to have a new LLC whenever the ownership structure is different, when I have > 10 doors, or when the total LLC's ownership is > $1,000,000.

That place is a total joke.

The developer makes their money on a one time developer fee of 10% of the total project cost.  

Total debt is $2,433. 

He will be totally hands off and only role is to provide money.My goal is cash flow and another investment(same as my father).I have limited free cash on a tight budget but have access to a heloc loan for expenses if needed.

And last but not least, I would absolutely and totally avoid HOA-based properties.

With that being said, appreciation is certainly something to always consider here in SD.Example of current property for sale, $1,800,000 asking price (25% down) - 4 units $10,200 total monthly rents (pro forma) - rental market has seen softening as of late$9,770/month after assuming 5% vacancy rate.$8,981 mortgage at 7%$2,918 expenses monthly 33.38% of Gross rental income (Prop mgt, maintenance reserve, utilities, Prop Taxes, Insurance, other)$6,852 NOI/monthly ($2,129) negative monthly cash flow..Same scenario with 50% down, $864 positive monthly cash flowNot saying it's the best use of capital or the only way to do it, instead providing an example using an available market opportunity to share what the numbers look like. 

Few people get into REI and find out it's totally hands off.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I had spent, I believe in total around $60,000.00 putting this flip in this guys backyard.