I would act as property manager for the property, and in lue of fees I would put those funds back into the operating account until those funds matched the initial investment that was needed by the other 4 partners. 

Do some Google Street view, look at the time of the photos and virtually drive around.

More specifically, talk with the sales reps that sell the compact excavators and compact track loaders, they will 100% know some smaller contractors, landscapers, and owner operators who are looking for the exact job you're talking about.

Hi all,I currently own and operate a home inspection company in the Hudson Valley, NY area including Orange, Sullivan, Ulster, Dutchess, Rockland and Putnam counties.  

With clever legal structures and effective operations under the guidance of an attorney, you can have this too!

LLC, in general, will provide you with the asset protection if you follow the state required statue to operate the LLCs.  

The operating costs seem high to me, and I am not sure what operating expenses are necessary when you pay a HOA fee.

I can improve the operations of the property to increase value. 

Any suggestions on PO Box or virtual address?

.$145,000PURCHASE PRICEPurchase Closing Costs$2,000.00Estimated Repairs$20,000.00Total Project Cost$167,000.00After Repair Value$170,000.00Down Payment$7,250.00Loan Amount$141,882.50Loan Points$4,132.50Amortized Over30 yearsLoan Interest Rate5.400%Monthly P&I$796.71Total Cash Needed$29,250.00Monthly income:Rent:$3,500.00Other:$0.00Total operating expenses:Mortgage expenses:Vacancy:$350.00Repairs:$350.00CapEx:$350.00PMI:$40.00Garbage:$20.00Insurance:$56.00Management:$350.00P&I:$796.71Property Taxes:Total Monthly Income:$3,500.00x50% for Expenses:$1,750.00Monthly Payment/Interest Payment:$796.71Total Monthly Cashflow using 50% Rule:$953.29I made conservative estimates on everything.