In this same deal, the investor would need to come with 15% plus closing costs and let's call it 17k. 

My partner will be general contracting at no cost, although he will be paying a few key 1099’s and contractors .

If you’re not going to make the smart move of selling tax free, and make the questionable move of being a landlord in Ca just because you already own the home…A) No LLC, it won’t help with taxes, liability, or anonymity but it will increase the cost of insurance, taxes, and any financing  (and maybe the bank calls the current mortgage  due.)B) Get an umbrella policy if you are worth more than $1M, maybe $500k  C) Don’t even THiNK about doing this yourself.

In addition, targeted searches for "apartments 77008" and "greater heights apartments" have lower competition which provides a great opportunity for organic and lower cost of acquisition.

I do like the smaller properties because occupancy tends to stay pretty high and consistence and costs generally are low, but I know we are also missing out on the really great returns on some of the larger properties. 

Purchase price is below $30K, renovations cost based on one contractor bid is $350-500K.- Best way to estimate the ARV.  

VA assistants has dramatically reduced our work in the business and provided 24/7 monitoring for a fraction of the cost of local property management. 

Here's some more context:Rehab cost about 30k.

When I have a tenant sign a lease they also sign a document for the cost of repairs when the lease ends.  

Partner Driven financed the W 136th Ave deal using its own capital, covering the $180,000 purchase price and $37,413 in renovation costs.