You should have a linked savings account that you can use for reserve funds for things like capital improvements, unforeseen repairs, etc...put a little bit away each month and don't touch it for recurring expenses like taxes, insurance, etc...Not purchasing through your LLC?

I'm currently evaluating value add MF deals in Texasbased on what I can glean from my limited experience, sources of upside include:1. class c property with below market rents - potential to upgrade units and improve efficiencies to get to market rents2.  

They are adding a Nordstroms, and other shopping centers, along with improving the roads.

With the 814 Court St property being retro zoned back into a triplex, so will its property taxes be improved.

There's been several threads dedicated to Joint Ventures and there'a variety of ways people set them up.

Assuming you file a joint tax return why complicate things?

I would make the right improvements and charge as much rent as possible.

E.g. You buy a $100k house that has cap rate of 10%, so $10k cash flow.Since you adjust 3% per year for inflation, after 15 years your income is doubled to $20k, yet the asset price is still only $100K, so now you hav...

Actually, I want to make some minor improvements and raise the rents especially the tenets who is only paying $940.

For materials, that's the easy part, if the supply houses wont give me 60 day minimum, then I just move on to a larger one that will post 20 day notice and will agree on joint check agreement.