We've toyed with the idea of investing in real estate before back in Chicago, but never pulled the trigger.

It would probably be a better idea to come in closer to $420k in case there are things you missed/forgot to account for.

Did not form business yet but idea is to redo everything and keep collecting the checks for next 15 yrs. my partner thinks it's not a good idea to change drywall sheets but change everything else.

They would have a good idea on who to use or who to avoid. 

It wouldn't be a bad idea to put your tips in writing, making sure not to alarm the tenant to things likes mice

I feel like it could even promote me to never have to tell the tenants that I own the "plex" which I also like that idea.

I already have an idea of several ways I want to approach this deal but I would like to hear some of the seasoned investors ideas so I can better formulate my plan to acquire and hold.

I will definitely have to find someone much more experienced when it comes time to file this year as it looks like the CPA I used had no idea when it came to all of this.

With all said, anyone has any ideas how I can fiance my next project? 

I never got financials that I trust, so I have no idea what their expenses were.