And @Wayne Brooks, most condos cover damage and repairs to the walls and structure of the unit and that's it, as was the case here. 

My question I would like to get feedback on and start a discussion on is at what age and net worth does it make sense to structure a trust.

In Maine, it's very common for landlord supplied heat simply because heating oil and winters can be so unpredictable that both lower income tenants AND financially savvy blue collar tenants lean toward "heat and hot water included".

Building inspectors inspect structure not plumbing.

Have an opportunity to buy a property which ARV is between $85K and 90K. Seller has a HELOC of $65K with payments of $645 a month. The house needs approximately $20K worth of renovations and I believe I can rent it fo...

The two common choices for doing so are the self-directed IRA and the Solo 401k.The Solo 401k requires self-employment activity, but will allow you to take participant loans while the IRA does not.A few other Solo 401k benefits:Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)With either structure, it's generally recommended that you do not commingle retirement and non-retirement assets.

I have studied many types of Equity structures in a syndication scenario with various types of preferred returns, equity hurdles, and more, however I have not been able to find anything about how a sponsor can buyout the equity limited partner in a long term hold scenario.

A couple expenses that are not on the sheet are a new roof last year for $11,500 in both buildings as well as $4,000 in paint and supplies.

Typically a sponsor cannot take 1031 exchange money as that has to be more a TIC or DST structure. 

Yes MF is crazy here in Denver, low supply and high demand, coupled with high ask prices.