We would prefer to deal with a local private lender who understand this market (Washington DC) and can quickly determine if he or she wants to invest with us. 

I was going to use that $11k to invest in a property, but I'm uncertain how to determine if that $11k is worth $200/mo.

Assuming one of the deals go under contract, I will act as the sponsor and syndicate the transaction for the down payment and repairs under market terms.This may be a dumb question, but I'm wondering whether there is a tool that syndicators use to keep track of investor contributions, ownership interests in the deal, Sponsor distributions to investors, or just to play around with different scenarios? 

No other homes in the area have sold so its hard to determine market value.

My advice to you as you are beginning is to determine what you want from real estate.

You can transfer your ownership of a partnership into a separate “child” series (say Child Series LLC-Property1,) but this can be done privately through your computer at home instead of creating a new LLC - and it’s housed under the “parent” Series LLC.

and if something is not to code (e.g. blocked fire exits), require the owner to fix.Where they do not provide any service and just impose a fee (e.g. occupancy fee with out doing any inspection), that is an infringement of ownership rights.

My only other option to not pay mortgage insurance forever seemed to be a conventional loan with a much higher down payment and only pay until I reached 20% equity.I was determined to find something better.

And then to talk to people implementing the options you're considering to determine whether it is a good fit for you personally. 

The difficulty that I am having is when it comes to larger items, such as New HVAC and knowing how much to put away given its useful life when a property is acquired, Painting a property, new roofs (along with determining its useful life), redo of blacktop for parking lots (especially older properties).....these larger capital expenditure items are a lot more difficult to determine in my opinion aside from putting money away for unforeseen maintenance items or vacancy.