Otherwise, I was going to look for a bank loan and try to get something that charges me as I draw  (vs getting one big loan all at once) and slightly lower interest.

There has to be some form of a written agreement on who gets what of the profit, who's in charge of maintenance, what happens when a partner wants out, who's on the loan/title... etc  I find it hard to believe that this person wouldn't just take this deal and run with it on their own since they are funding everything with their money and I won't be giving a dime.

I charge my tenants an $80 flat fee for water and trash. 

That's considered "neglect" or "abuse" and I would seriously consider charging the tenant for at least a portion of the repair.In the future, you should only renew after a complete review of the tenant's payment history, communication, care of the home, etc.

@Nidhi SinghMy risk tolerance level would say, yes, get some experience before doing that.Things inevitably go unexpected and what do new people often do when things go unexpectedly? 

Also there is a laundry room that he currently doesn’t charge for, I’ll be adding coin op laundry and charging a small amount. 

My lender is charging me $2400 for the rate lock.

He is charging me $2400 for the rate lock.

If the RE properties were in your name(Not in LLC) and it was rented directly to medical practice as your capacity as an owner, there would be Self - Charge interest rules, but I am guessing the ownership of the RE properties is under LLC whose business activity is rental, so those rules can be bypassed if structured carefully. 

This resource, http://www.realestateiq.co/provides from the MLS data on off market deals, CMA, county data specifically to the Texas market.They charge monthly based on the geographic area you choose.