Because the LLC is a pass-through entity, you get the tax benefits of direct ownership.Once the deal closes, the general partners work closely with the property management team to improve the property according to the business plan.

Say she does a 203k or conventional renovation loan she could have you joint on title as non borrowing or on the loan to help. 

They try to get their Profit up front, before they might do some improvements and Flip the property.

@Aaron VargasIt looks like you will be acquiring the property as tenants in common(all 3 individuals will be on title and mortgage).You likely want to create a joint bank account where all the income/expenses will be flowing out of.Just an FYI, if you 3 are all on the mortgage, it really sucks becuase it will count towards every person's DTI ratio going forward.

You might also time it so the next contract is signed when you do some time of home improvement for them so they can see you will be actively involved in keeping up the property.

If anything, someone with an STR may even make improvements your place with your permission.

If not partner up with another REI and buy as a joint deal.

It seems like the system is set in a way where landlords can't really improve the condition of their house without knowingly loosing equity or cash flow. 

My question would be, how does taking out a sink improve usability of the pace or make the property worth more to rent?

@Tracie Van any and all adults living at my property are in the lease and held liable joint and severally liable.