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.

And so on depending on how desirable / undesirable the area is.So my question is, for anyone in Denver using this method, what % rate are you using?

No matter how thorough my communication is, people still take cars/vans where they shouldn’t go and get stuck in mud or snow. 

The new assessment is $7295.2 (county tax) + $5180.93 (MUD tax).

All of these may not be triggers for you and me but it may be triggers for other investors.The strategy you had in place is not working -triggerThere were additional costs that the previous owner did not reveal to you -triggerIf you got ripped off by people -triggerIf you partnered with someone and you do not get along or can't agree on nothing - triggerOne of the big employers in the area filed bankruptcy -triggerOne of the big employers in the area decides to move to another city or state -triggerhome owners association is similar to Hitler's gestapo -triggertenants association is unreasonable and troublesomeIf you see another deal that you like better -triggeryou feel the market is going to change -triggerIf the weather changes and suddenly you find that your area is not the same ie drought or flood or mud slide -trigger Insurance increases because of weather change -triggerfound out that the land is contaminated - triggeryou are tired of dealing with the property -triggertenants not paying rent -triggeryou took on more than you can handle -triggerproperty taxes went up -triggergangs in the neighborhood -triggerfamily issues change your priority and you simply cant handle it no more -triggeryour tax abatement has expired - triggertransportation has discontinued in the area -triggerlegislation to put in a new transportation station has been vetoed or approved -triggerthe team (ex contractors, project managers, etc) you tried to put together doesn't work out- triggerillegal activity found on the premises -triggertenants tell you place is haunted and you know someone died on property -triggerdemonic neighborsabundance of pests -triggersink hole formed - triggercess pool discovered -triggerwater contaminationpopulation changeschools accredation changesschools shut downtenants or their family starts shooting at each other or youwrong type of business sets up shop near your property, or they are too close or your comfort. ie gas station or drug dealer or prostitution or cemetery or factorywhatever does not float your boat -trigger

So we are keeping the brick, and not bother doing framing, sheetrock mudding , taping, paint...Same with the ceiling.We are going for this look:No, there is nothing wrong 40K houses.