Some are free, some are paid entrance.Are you thinking of buying when you hit the ground here, or leasing?

How/when do both lenders get paid back in full?

So the friend contributing the least upfront would own the least stake at first and would gradually buy more into it as they paid the most monthly to build up equity into the project.

If you need to add those systems they can be incredibly expensive and time consuming to install, especially if you have to deal with current tenants. 

Personally, I like the all-in-one units but they are expensive and poorly suited for larger units where it will take forever to get a load of laundry done (since you can't move the clothes from the washer to the dryer).

I anticipate at least another $5000 in cash flow with a new tenant which is will allow for things like electricity and internet to be paid for too as well as more cash flow.

@Kenji TominagaIf the taxes have already been paid by the seller they are prorated as part of closing costsIf you are talking about escrow payment taxes then some appear to have missed them as you would be paying those

I recently renovated a building downtown, and that investment paid off in spades. 

They are application fees, plan review fees, maybe/maybe not impact fees (tens of thousands of dollars paid to the local government so you can develop a raw land), permitting fees, rezoning fees if rezoning is required. 3.)

I expect heads may be exploding when they read he has 25 paid off properties with dead equity but I like it.