I was born and raised in Dallas Texas.  

My question is how does this change each Limited Partner's membership units they invested in during the raising of capital?

It will cash for for at least 200 per month maybe more if I can raise their rent (there at 600 now and is 100 too low for the area) The problem, my credit.

I know this is a slow process, but I really want to build passive income and spend more time with my family.Anything in my plan that might raise questions?

It did however raise some valuable in-site, and raised some red flags for me, as well.

I know 50%> owner occupancy raises some red flags with lenders but is that the specific issue?  

You could also add on an amount for bringing the apartments up to current style, but still use lower rents for income assumptions because you're the one who's going to have to do the work of raising rent.

In six months or so I can request to raise my credit limit from all three bank cards.  

But that sounds like a good way to raise initial capital.

I.e. when inflation is high the fed will raise interest rates and when inflation is too low they will lower interest rates.