The first step I would recommend is to get on the same page And set the goal. from there the path probably isn't incredibly different depending on equity on the house you bought you might try and refinance and pull money out for a down payment on the next property whatever property that is.alternate methods of buying another property would be things like seller financing hard money private money or if you have the means obviously cash.But seriously the best thing I can tell you is to make sure you guys are on the same page and pushing towards the same goal If you're not it's going to be miserable

Real Estate is generally viewed as a good asset when it comes to inflation, but often real estate is not included in the basket of goods that measures inflation, you may ask why, because we do not buy a house every ...

No issue paying cash, just curious on cost effectiveness… as storage and commercial are not my expertise.  

Having a dozen units under one roof is way more profitable and cost effective.

After you transfer the property to the LLC, give the tenant a short letter that explains the transfer of ownership and that all other terms of the lease remain in effect.

If you are looking to invest into real estate, I have found this site to be incredibly helpful.

Scott's book will provide a helpful start in teaching you the categories of fixes you may encounter and their relative (but not absolute) prices in your particular market - and having the contacts necessary to put your plan into effect in a timely way.  

Also, finding good deals in a timely fashion is a challenge these days.I would think the operating agreement of the LLC would make it difficult for the GP to effect a 1031 exchange unless he effectively bought out the LPs, removing them from the entity.

Insurance company said it is effectively two homes so it will be more expensive. 

I think it is incredibly helpful for other new investors to hear the trials that come along with securing a property like this.