Even better, use an equity participation note where you charge for example 5% interest plus a percentage of the profits. 

They then issued a special assessment where each owner got charged a percentage of the total bill that included the expensive sewer line replacement, but our portion was less than we would have paid to fix our own unit, so we were fine with that.

Keep in mind, appreciation percentage is applied to the property value, not the equity.3 - If you took that profit, and invested into a new rental, could you CF that rental.

What percentage of the time do individuals pay their taxes in the 1 year period?

For flips, we usually create custom report to keep track of the project costs and another report to show historical data of all sold properties as percentage of income. 

What percentage of the time do individuals pay their taxes in the 1 year period? 

you can't use percentages for capex. 

Memphis also has a diverse economy and a growing job market, which helps stabilize rental demand.Moreover, Memphis has a strong rental market with a high percentage of renters, which aligns well with a long-term passive income strategy.

The vacancy percentage is higher than desired and it is very competitive to get renters into both units.

Where can I find detailed zoning information (beyond just the code, such as max building height, maximum percentage for building size, etc.)?