As noted, any commercial sized assets are already held in an LLC, which it typically the borrowing entity, which is owned by an LLC where the LPs come in.  

I would like to buy a multifamily property within the next year with my younger brother.

The appreciation on rent and property values is going to be below the rate of inflation. 

We have a CA LLC (H3 Properties) but need another LLC for a partnership STR investment on the East coast.  

I want to put a home on it, it has utilities running to the property already.

Rehab projects are great and they give you the option to sell and move on after completing or to hold the property as long-term rental to generate some extra income.

Google MapsGoogle Maps is a fantastic and free tool for scouting potential properties and understanding neighborhood dynamics.

I am a property manager in Kona and we are not currently taking on mid term rentals because we don't want to promise anything to our owners that we may have to go back on if the bill passes to some capacity.

Purchase price: $70,000 Cash invested: $70,000 Bought a piece of property with 2 houses on it.

Also see if you can pull up rental  and sold comps in the area using Zillow and Redfin and you have to give a   margin of error in their estimates and see if property appreciation is there for that area in case you are thinking of building equity.