Also keep in mind that when refinancing out equity from your personal residence that it isn't an income producing asset.

Never, and I mean never buy property unless and until you've assessed that it can produce sufficient financial returns to justify investment of time, energy, and money.

In this case I would still want my  friend to be paid for any work performed by himself on behalf of business (he needs to still earn a check) and we would have to pay someone anyway BUT at the same time give him a % of the equit and cash flows from the income producing properties.

My purchase contracts all have a special provision to reduce the purchase price by $5,000 for every mobile home title that the Seller cannot produce by Closing. 

Asking for $2mm for an asset that produces $18k in rent .... seems quite expensive.

Let's look at an example: An asset that produces $100k in NOI will be priced at $1,250,000 when CAP rates are 8. ($100k / .08) . 

It stops mold from producing spores and inhibits new growth.Ask the new neighbors about mold--if the sellers knew and the neighbors tell you that they knew, you may have a claim in that direction.Also, mold needs water/humidity to grow. 

I dont see a reason that a buyer would want to be on a list of someone that hasn't produced a deal yet.

@Prashant Sheth  If your Delaware LLC is owning income producing property in the state of Texas then it should register as a foreign LLC in the state of Texas.

If no, invest in the debt.However, you will want to define what out perform means to you..... becasue to some being debt free is far more valueable then additional debt even it's income producing.