So if you need extra money LOC is an open option. 

I am thinking maybe getting something on the cheaper side and remodel it, (although I have zero experience in doing that and I don’t think the bank will give me extra money to do the remodeling).

But the truth is, none of you, if you had $300,000 in cash would buy a rental that nets less than a grand a month unless there was some extenuating circumstance, like buying equity.

It's easy to say that these are supply constrained environments and that rent growth will continue to take-off but the truth is, so many are already paying 30+% of AMI on rent.

You need an experienced short sale agent, which may be hard to find for the extra work on such a small price/commission.  

I'd be inclined to tell your neighbor to buy extra units for your multi & you'll split the take 50/50 & he installs & maintains the appliances. 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Trying to reverse engineer making an extra $30,000 by the end of this year.What formula are you all using?

Aside from multiple ongoing code violations, neighbor complaints and damages, they moved in extra people/pets, tried to scam the utilities, stopped paying rent and ultimately had to be evicted. 

(It's not always as easy as "just create another LLC", sometimes due to time/logistical limitations and sometimes due to the extra ongoing expense & complexity of another entity.)These days, I actually think I prefer LLC names as generic and boring as possible, so they don't stand out and aren't easy to Google - a kind of pseudo-anonymity.