Also, at this price range, central AC is a must in my opinion (it says you have a swamp cooler in the listing).You also have some new construction pretty close to your home that is going for just over $1MM that are not on the corner of the busy street which is some stiff competition for people looking for high end homes (800k plus).

You can also learn a lot about a building in winter that you would not know at other times of the year: Seasonal movement - are doors/windows stiff or stuck, are steps or {too shallow} footings heaved; Envelope - is there snow accumulation on the roof (adequate insulation) or has it melted off?  

The area is surrounded by other multi-unit rentals of equal to worse condition, so I expect competition to be stiff and may not be able to raise rents as much as I would like. 

Try running the keys through a grinding wheel that has a stiff wire-brush wheel (NOT a grinding stone).

An AirBnB type property, perhaps, though you have some stiff competition with all those condos.

Making willful or negligent misstatements on your tax return is fraud that can result in stiff penalties.

BBigger/Flatter tiles, need super stiff/flat surface.

@Rosh VarugheseYour banking system works a little differently than ours with respect to refinancing and penalties.Before considering penalties, if you need the funds in the short term for an acquisition, you will generally want to refinance and place a mortgage versus a secured line of credit - you will obtain a better rate on the money you borrow.If you will need the money at different periods in time several months out, you may better off with a secured line of credit - your interest rate will be higher, but you need only draw down the monies you need at the moment.Here in Canada, there are stiff penalties (IRD) for early payout of a fixed-rate, fixed-term mortgage.  

. % ownership has no bearing on dispensation of P and L..the P and L question should be spelled out in your operating agreement.. like you posted above you ge 10% of profit or loss and the other partners get 45% .. if that's the agreement then makes no matter who owns what % of the LLC>  even if its not in writing and you guys agreed to it verbally then your not entitle to 33% since your third owner of LLC.. just take your 10% be happy your making some money.. save your money far to unimportant to go running to an attorney.. unless your partners are trying to totally stiff you can pay you nothing.

This might be a bit difficult to do in the Seatte market because he competition is stiff and there just aren't that many good deals that I've seen.