I won’t be looking to re fi those anytime soon because my interest rates are so low with them but when I do my current lender has said they will be limiting how much they will lend based on the properties tax returns. 

I know about 1031 exchanges to avoid taxes but not getting a loan against the house to prevent profits.... 

Other than taxes and insurance, I'll assume the best case in that there are no other expenses.

you'll need to check the tax records to see how many legal units are in the property.

Look at every method you can for reducing taxes, income and property taxes.

If you want advice on real estate investing and the tax and financial strategies associated with it you should work with a tax strategist with real estate investing and financial planning experience. 

In this partnership, my partner put in 90% of the cash as well as a bit of time and expertise in around items like taxes, bank finance, etc.

Do i have to actively manage a property to use a bonus depreciation tax write off? 

We spent 10 years and then sailed away on a sailboat paid for with tax free dollars, 3 waterfront vacation rentals paying for the sailing, and a custom built dock in the back of one for when we were in town. 

capital gains tax, seller commissions , other fees, etc?