My market Southern California is very expensive. 

The property is paid off, fully remodeled and has a tenant in place whose rent exceeds the monthly loan amount.

It is pretty expensive time/cost wise to do that many letters.

Included in the price of this estimate is expanding a smaller bathroom into the existing footprint of the home, a tile shower with frameless glass shower enclosure, a freestanding soaker tub, a stone countertop, and a separate water closet.Primary additionComing in at one of the most expensive things on this list, a primary addition with midrange items costs homeowners an estimated $156,000 and recoups only 31% at closing time.Bottom line- only do what you need to do to get the best 'bang out of your buck'.

Looking for help on what percentages should be for expenses at this scale and any creative financing options?

We requested 1.5x deposit and they would cover all maintenance expenses under $500.

They will be bringing in $15,000 or $20,000 each depending on Partner 3**Partner 3-5 will be paid out each by the LLCs carrying the loan**How would you divide this Partnership so everyone is happy with their roles and involvement??

Should the purchase of the property be made with funds from the new LLCs bank account along with all other expenses?

Would shoot for $150-200 per door though after expenses.

I found this page through a simple google search of "how to leverage a paid off home".