But currently as is with the portfolio that has been built up, the positive net cash flow is 100k a month.Any help would be appreciated, joint ventures are welcomed. 

So your final decision might be the answer you make on those 2 properties and any decision might be decided on the debt question of good debt versus bad debt.If you have any benefits by purchasing  an apartment complex as a controlled ownership and by benefiting from a Tenants in Common joint venture association that will contribute to an apartment complex purchase and allow your keeping control of that property on a daily basis regardless of your ownership percentage.  

You don't want to run afoul of non-discrimination laws.Good rental criteria requires all adults (18 and older) who will be residing in the unit to apply, pass the screening process, and be listed on the rental agreement as jointly and severally liable.

This is my first post.I want to ask away about investment employment versus joint venture. 

I would suggest you expand your network, talk to wholesalers, hard money lenders, FIND INVESTORS and create joint ventures.

If it was a tub and shower combo, this would be a much bigger deal, but I suspect your use of the tub will be far inferior to your use of the shower anyway.

The original heavy quartersawn oak trim was also replaced with cheap finger-jointed pine molding, also painted in oil-based gray. 

Lenders are saying that because the LLC is jointly owned (50% for my partner and I) we are unable to do the cash out refi and that if we take it out of the LLC and put the deed into our names, we'll have to wait the 6 month seasoning period. 

You should not have the 'friend' record a deed on the property, have a contract between the two of you for business purposes and purchase the property jointly and pay back based on the contract/agreement you have with them.There are other types of loans like Hard Money & Non-QM programs that may have different guidelines that can help you as well, but, the Delayed Financing option will give you the best long term rates for a longer term hold with fast repayment of most of your capital.  

Non-occupant cosigners don't do you any favors in terms of FHA down payment requirement on a 2-4 unit.Apply together, ask your lender to work it up individually for each of you, and jointly as occupying coborrowers.