As a partnership, the income and expenses will be allocated to each partner in accordance with their share (or as given in the partnership agreement).

I would within the timeline of your states guidelines send a letter accounting for how the deposit was allocated.

The problem when you just borrow money not allocated to a specific property is; how do you decide when to pay it off?

Can you please clarify "keep your money in the taxable bucket and allocate accordingly"?

I need advice on the best allocation of my money and how to achieve this.

@Chris KovarikWelcome to BP.We usually allocate $350 a unit per year for cap ex (reserves).

Not allocating cap ex and maintenance because an item is not expected to fail soon is simply providing a misleading return estimate.  10% maintenance/cap ex ($132) is less than half of reality and maybe less than 1/3 of reality.  

Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed.

Nearly every lender is focused on diversifying their offerings based on current events and allocations of capital to provide more products to more borrowers across the spectrum.

Obtain estimates for planned renovations and confirm if the allocated budget is sufficient.