We have been fairly reasonable in accomodating normal repair/maintenace requests.

They've been upgrading units as they've become vacant, which has reduced the monthly cash flow temporarily with expectations for greater cash flow in the future.The partners are all retired so they are starting to miss the normal amount of income.  

That would be fairly normal.  

The question I'm having a hard time with, is: since I'm a renter, I don't know whether to invest in my primary residence first (single family house) and then look for real estate deals, or if I should try to get my foot in the door with a 2-4 unit first. 

hi jeremy. i would agree with bill. i would bet the downspout was draining right next to the foundation which is completely against the whole point of a downspout. you want to devert water away from the house, not dump huge amounts of water right next to the house......lol. i would have to say, from a home inspectors point of view, the water has probably eroded the soil beneath the footing and caused the footing to collapse, allowing the foundation to crack and collapse with it. you could get away with just tuck pointing it, but it will come back. the repairs could be extensive and expensive and jacking the house could be involved. it could also involve a small area of the footing/ foundation and allow you to rebuild just that area too. hard to say without actually being there. check with a local structural engineer and weigh the costs verses the value of the house. after all, thats what real estate investing gets down to. good luck to you

*Take into account, Cash Flow: Mtg pymts, Property taxes, Property Insurance, Normal Repairs, Damages, Vacancies, Tenants not paying rent, Evictions.

@Lawrence Barnes  members can either contribute capital or loan the LLC money either way. you could simply contribute capital and in your operating agreement it calls for a distribution to you monthly that is separate from the normal running of the business. 

I am not trying to be rude, I am just trying to point out how ambiguous your question is.J Scott gave you a massively wide range for the same reason.When it comes to rehab, there are way too many components to rely on a square foot budget.

outskirts of San jacinto and 1200 sq foot I'm this inking if moving in for a year doing some work myself. 

If there are no comps then you would have to rely on quotes you get from General Building Contractors to give you a cost per square foot to build at that location But without actually building plans designed and stamped by an architect and structural engineer you may not be able to get exact figures but a ball park figure at best.