What they told me was, even though I think this place should get $1100-$1200 a month per unit, it was rented before at $900 per unit (well, the dad's son lived in one and he rented the other to his friend for $900) so I can only get a loan to cover 80% of that amount(or something like that).Does all that make sense? 

I am partners in 2 condo units, and a bunch of multi-family buildings and some single family homes.

No one can answer that because the first question all depends on how your basement is set up with agree (windows, doors, access) and what your town's regulations for legalizing a basement unit (usually way harder than anyone thinks).When you say join a JV, it would depend on your relationship and the asset and the split.

You can make a basement habitable, but not always rentable because the latter would require you to get an updated CO and convert the basement "unit" into a legal dwelling... which would mean your house would go from a legal-2 to a legal-3 fam. 

Welcome @Willie EshePensacola has a strong market for small multifamily(2-4 units) properties but typically not enough inventory. 

"The cost of selling a home in the United States could shrink as a result of a global settlement with the National Association of Realtors."

Generally, many 2-4 unit properties are not purchased for their income producing abilities alone, as much as larger multi-unit properties are.

I'm looking for an LCAM for a 55+ condo association with 717-units across 191 buildings in Palm Beach County, FL.

I am a real estate investor, I own 23 units over 9 properties.

Our investments in Binghamton continue to yield strong cash flow, surpassing many other markets across the United States.