They will make the monthly payments, take care of repairs and improvements inside and out at their expense.

I may look at the 201k loan - as this would enable me to make repairs and possibly improvements that negate some of the risk of owning an older property. 

The purpose is to buy with little money down and also finance the improvements.

You should have a linked savings account that you can use for reserve funds for things like capital improvements, unforeseen repairs, etc...put a little bit away each month and don't touch it for recurring expenses like taxes, insurance, etc...Not purchasing through your LLC?

I'm currently evaluating value add MF deals in Texasbased on what I can glean from my limited experience, sources of upside include:1. class c property with below market rents - potential to upgrade units and improve efficiencies to get to market rents2.  

They are adding a Nordstroms, and other shopping centers, along with improving the roads.

With the 814 Court St property being retro zoned back into a triplex, so will its property taxes be improved.

I had an older profile (https://www.biggerpockets.com/users/Pecuniary) and had introduced myself, but Bigger Pockets didn't like something about it and took it down, god only knows why.

I just started this and don't have a profile picture up yet. 

I would make the right improvements and charge as much rent as possible.