It's a trade off they understand will be more profitable in the long run.In the past, I have picked up a lot of Landlords from eviction court. 

When you guys contributed cash, you should have recorded cash as a contribution in the LLC's books. 2) When you invested in the LP, you would get rid of the cash from your books and record the Investment in your books. 3) After the year-end when your investment entity (not your LLC) files a tax return,  you will get K-1 from your investment entity. 4) You will record the activity of the investment that is shown in the K-1 in  your LLC's books.  5) After the books are done recording the K-1 from your investment, your LLC will file a tax return and will issue K-1s for you guys. ( just like your limited partnership investment issued a k-1 for you LLC) 6) You will pick up the K-1s in your personal return. 

From there you can determine the stabilized resale value.  

Determining ARV.

The time you save in not searching turns to all the aforementioned and your opportunity to pick and choose how you involve yourself in each deal; thus partnering on the great stuff and wholesaling the good.Even 2% ownership in a com or multifam deal long term could be a great start to a passive income that allows you even more freedoms (choice).ALL of the value is in the deal.

Price is determined by supply and demand.

@Mark Doty  When we look to determine the capital stack, we first determine all our "Uses" or costs.   

How about going through with all of it except you get to pick the licensed plumber, that way you know it was done right and you have some recourse if it isn't.

If your grandfathered in he city has no right to determine what homes you bring in...this isn’t legal advice.

Feel free to message me the addresses and I can help you make that determination.