People's wants & needs will shift when their disposable income + sense of economic well being changes as well.

Family doesn't find it's way into the definition, so to answer your question in a nutshell it's not view any differently.Parties to an arms-length transaction are perceived to have adverse economic interests, so it's rare that you've have consideration out of parity with FMV compared to transactions between family and close friends. 

You pay taxes on the debt paydown portion of your mortgage too.The big lesson here is if you're going to buy and hold something, hold an asset that isn't going to lose much value during economic correction, and one that cash flows well enough to make it worth holding through a whole market cycle.

For those of you, no matter what age frame you fall in:(lets assume we moderately change our strategies through the years to  account for changes in economic cycles)-How are you preparing yourself for financial Independence and possibly early retirement? 

Additionally I put in 2 new retaining walls, painted the entire inside common area, new carpets, added a small gym, and put up nice artwork (essentially it looks like a brand new building)My question is about cap rates......I know cap rates are based on the area and general economic conditions.

In the next economic downcycle you'll fold.

Currently doing a study on modular vs site building for working class housing. What are your thoughts?

You just need a major rethink about the roles, the economics and what you can legally do before you file an SEC registration.

The economic driver's in Killeen are completely different than those here in Austin.

How much the LLC takes from you as a "cash infusion" or transfer of member interests, and how much the LLC takes from your partner as a purchase of the member interest depends not only on the asset being transferred in, but who's doing the work moving forward, are you taking salaries, is there recourse, is he getting a full member interest or just an economic (profits) interest . . .