It was a supply / demand anomaly created by improperly controlled lending.

My long term goal is to keep 1 in 5 properties(at a minimum) to create a passive income stream.Do you have some ideas on how to stretch the 200k in my situation or am I on the right track?

I hope I am within the rules.  

You'll need a lawyer and accountant to decide the best way to handle ownership since there are rules surrounding syndication (though it doesn't sound like that's really what you're are doing.

I have read the rule of offering 70% of the ARV minus repairs.  

At that point you can make the rules for the TB.

Then you can easily get confused with the rules that often seem contradictory.If your goal is to get a general overview, the BiggerPockets bookstore sells two books on REI taxes that are an easy read, unlike the Vernon Hoven book recommended by someone earlier.

I'm earning about 18% CoC on my newest unit. that's without any financing and not counting ~30k in created equity.

Obviously, that can be a disaster.Also, there are lots of rules about how to operate an LLC so that it actually protects you from personal liability.  

Is there a good template for creating "Pay Rent or Quit" notices?