There can an operating agreement which will indicate how the income and expenses will be split.

If you self manage, what have you implemented recently to streamline your operations to make it more passive?

That's what I am in search of, I've got plenty of help and knowledge about whether I can operate one and how to file the paperwork correctly. 

We have turned over 2/3 units using cash from operations and making them much nicer with granite countertops, soft close cabinets, and LTV flooring throughout.

Essentially, there must be a paid parking footprint in the area already.The ideal asset would cashflow from day one with the ability to add value via technology, operations improvements, and/or NN lease addition (or renegotiation).

And make sure we don't operate in a way that could get us in trouble.  

A few key highlights are:-A key indicator to determine the best cities to invest in and where to expect the most growth is the recovery of the business services jobs, (services related to operating a business like accountants, lawyers, cleaning jobs, IT)- The faster jobs in business services pick up, the more likely a market will be a good long-term bet for real estate investors-San Antonio made the list for one of the top cities for business services job growth!

In other words, the previous owners were operating it like a duplex and renting out both units to different people...

@Isaac Gwin most of the people out there saying, "we are due for a correction" are not even invested in real estate and lack understanding of how the housing market operates.

Your operating agreement should tell you what you are.