@Huimin ZhangMarket is not going to improve that much for the loss you are incurring today.

There's a word for that.With any lease involving more than one signer, include the words "jointly and severally" in your lease, along with a plain-language explanation of what the terms mean:  even if your co-tenant moves out, doesn't pay, causes damages, incurs violations or fines, etc, you are BOTH responsible.

However, we believe it would be wise to use the LLC and a joint bank account under the LLC’s name to track cash flow.From a perspective of reporting taxes, would the LLC limit us?

I am working on forming a possible partnership with someone who owns multiple lots (lots are SFH up to 16-unit apartments).  I have the construction contacts and access to funds for the ground up construction (1 build...

I’m looking to buy a home in August and have been improving my credit score for a while now.

If your wanting to Leverage your money, play Monopoly, Hold these properties for a few years until the equity and your down payment matches that down payment needed for a bigger investment you know single family home exchange for a duplex or quad, then hold these for a few more years improve your position on them and then once your equity matches that of an even bigger investment exchange them into a 20 unit etc.. rinse and repeat.

You might be able to increas rents by 3x$50 (you live in #4); improvements have to be funded out of the value increase.

If I decide to purchase the property, I would remove the tree to open up the backyard and lay out flagstone in the backyard and improve its overall appearance. 

As you probably know, mid city has come a long way and continues to improve.

To answer your questions1) I think that with the area especially near the local medical school and looking at comps in the area another 10% with minor improvements (Paint, minor bathroom/kitchen changes)2) Great question I did the 70% rule minus rehab for that price.