I’m looking to become more active in REI and utilize the equity I’ve built out in my property. 

And don't get me wrong this wouldn't even be a discussion if it wasn't strictly utilizing the low money down FHA owner occupied situation to take advantage of getting the property paid off over time by the tenants. 

It is fairly common for out of state investors (especially NY)  to get really excited about the thoughts of owning a MFR at prices that the C Class areas in CT offer.  

Or, can I utilize my LLC in some way.... 

Possibly using a professional third party vendor for the pre-inspection is a great idea, give a copy to the owner and tenantExcessive holes in walls Broken tiles or fixtures in the propertyPlumbing backupsRepainting where a tenant has repainted from the original colorTears, holes, stains or burn marks in carpetsMissing or damaged blindsBroken windows and window screensBroken doors and locksBroken or damaged appliancesExcessively DirtyPest control if you see Bugs and or fleasJunk or trash left behindPast Due rentFees incurred from fines from the association due to the tenants conduct or lack thereofWater damage to hardwood floorsMissing outlet coversRemotes for garage or gate if not returnedRekey of locks if tenants did not return the keysUnpaid utilities, as long as they were part of the lease agreementUndoing a tenant alterationThis is a sample of things that are usually considered to be normal wear-and-tear and should not be deducted from a security deposit:Slab or plumbing leakNormal rug wear.

No matter how much appreciation you see you're limited to purchase price for 6-12mo (12 more common) know as seasoning.

Again, I would run exact numbers before committing.Or d) would you utilize some other strategy that you're willing to elaborate on.

Splits 70/30 very common for experienced operators and I see clubs / newbies going 80/20 or 75/25 to just get some experience going and attract investors in w/higher potential returns for the limited partner. 

It seems as though the most common consists of 12% interest and 3-5 points.

. $2875 in rent BUT with utilities included it's really only $2142 in rents.