He already has an LLC and wants to add this property to it, but he wants to include me under contract stating the percentage of ownership, etc. 

I've included some pics of what we have done in the past.Please share some remodeled bathroom tile pics - I need inspiration!

You could put $25K down on 4 $100K properties.You cannot exchange into improvements on property you already own so in order to include significant improvements in your 1031 you would need to do what is called a reverse exchange.  

But now looking at numbers, it seems to me that it might not be best of the options, as it is currently providing cash on equity return of about 2.4% (long term appreciation not included).

Most comps were in the 610-660 range for a house this size. 2970sq ft including the finished basement.

It's not "free" to sell a home, it's not just the realtor fees but getting a home "sale ready" is often different than "rent ready" and that doesn't even include potential for vacancy expenses and holding costs during the sales process.  

Hi,Looking at a duplex near blue star.

We plan to have a property manager...included about 8% pm fee in our numbers.  

My DTI ratio is 23%, including rent.

That includes Frostburg Md, Friendsville Md, Hancock Md, and even up to Bedford Pa.