For loan tracking my partners and I use this:https://www.brytsoftware.com/It does 1098s etc.  

As far as the LLC - I would strongly suggest you speak with an attorney that does private lending work regularly to ensure that the loan docs will be valid and enforceable. 

If the DSCR is strong, as is your experience and credit AND you've owned it longer than 6 months, it's usually pretty reasonable to get 75% of ARV.

Success in the real estate industry requires a strong team.To comprehend the characteristics of your target location, go out in-depth market research.

I love the fact that you have a partner in crime like Batman and Robin.

It's more of an appreciation market that will build strong equity versus the Midwest where you might get more initial cashflow.

So if I am a limited partner, what sense of comfort would I have that a first time sponsor was able to find a killer deal and manage it by themselves when others cannot.So to answer the question, this statement would get 3 washington post pinocchios.

My partner and I currently own 12 units in New Jersey and are looking to build an out of state team.

A partner and I are in the midst of two fix and flips northeast of Tulsa and haven't been particularly impressed with the quality and speed of licensed contractors.

Perhaps you can partner with someone to lower your costs and risk in this more expensive market.