I recently found a company in Washington state that sells drywall tape that is already textured (you can buy it smooth as well) that cannot be punctured - so it can be used instead of patching with drywall and mud - and look invisible when paint is applied over it. 

Or do you do the undesirable things yourself?

These are undesirable tenants!!!

There are alternatives in many locations such as creating MUDs and PIDs, but not all developers may be able to do that or want to do that.

Cash flow isn't much for any house above 250k but no doubt appreciation will be good after 15 years especially many big tech are moving their HQ here.One thing you should watch out for is property tax (asset value get reset every year) most new build in these area are higher than those houses in an older community because of one thing call MUD in TX which provide water, sewer and drainage, plus most house in the suburbs area of Austin are build in a HUD which all has HOA fees range from $20-$100 / mo.

Cash flow isn't much for any house above 250k but no doubt appreciation will be good after 15 years especially many big tech are moving their HQ here.One thing you should watch out for is property tax (asset value get reset every year) most new build in these area are higher than those houses in an older community because of one thing call MUD in TX which provide water, sewer and drainage, plus most house in the suburbs area of Austin are build in a HUD which all has HOA fees range from $20-$100 / mo.

He is the one taking all the mud from Fort Mifflin.

If you fail to perform ANYTHING you say, you're name will be mud and you're done in that market. 

David, to your point: Yes, I considered changing the Operating Agreement to 51/49, but the danger there creates too many what-if scenarios that make it undesirable.  

Ripping out the wood paneling/disposing it is costly and drywall/mudding and taping for an entire complex is going to hit your rehab budget hard2.