Therefore, if there is a "capital call" or where someone is bought out or decides to leave; you will not have to spend additional capital to amend the controlling agreement. 3) What happens when one partner want to sell a property and other one wants to hold?

You could easily spend 40-50k on what you just listed.

This is how I view your deal:Monthly Mortgage payment $603.92 (25% down, 5%, 30yr on 150k purchase)Taxes $280.00 Sewer and Water $66.67 (I spend about $400/year per apartment)Trash $75.00 ( 2 yard dumpster emptied every 2 weeks)Heat/Utilities $- (no common electric, basement or otherwise?)

What to spend my time and money on and what to ignore and run from.  

My thinking is for Household storeage . two of the places do offer a small outdoor storeage for Boats , RV's etc .not sure what those rates are I guess it depends on the size . 

Don't spend your money on a fancy car, save it for your next house.

Learn to not spend too much time on the tire kickers and focus on the meaty motivated deals.

Spend time on BiggerPockets and read everything posted in the forums and the blog about wholesaling.

Since I was buying as-is I don't need them to spend so much time writing a report, just walk the property with me and we can look together.

Depends on what you want to spend.