This can be as simple as one person or company lending money to the investor for a flat interest rate, interest and points (like the hard money scenario), equity share or as complicated as a combination points, interest and equity share.Using private partners is also an entire training class all by itself, but at the bare minimum we want you to make sure if you are using a private partner that you both agree in writing before the transaction to all terms and a definition of profit if you will be splitting profit.

As @Steve Vaughan wrote, its not that complicated. 

However, it gets more complicated, typically portfolios have either a premium or a discount added to the value depending on the diversification of the portfolio as well as the overall condition of the properties. 

Every avenue looks complicated to me being new at it.

If there's just 6 right next to each other and you can get to the basement(s), it might be more feasible.If the current system is too complicated, might be worth considering to:Split out the electrical, upgrading service and adding min-splits for heating/cooling. 

Also,I know several articles suggest 14 days can be done without being taxed then after that it seems to get complicated with taxes.

If not, what complications do you think could arise that could make this a disaster?

I am an attorney in Tennessee that does primarily construction and real estate.Lis pendens can get fairly archaic and complicated.  

If you want to buy something else, within 45 days of selling you must identify 1-3 properties (you can identify more but then you have to buy more and things get complicated.)

@Mary JayJeez, I'm impressed with my colleagues' skills to complicate such a simple question.- There is nothing wrong with transferring money from an LLC account to your personal account.