I also want the chunks of income that flips generate so that I can build up a cash reserve to self-fund my deals at some point.  

Keep at it and it will build up.

For the first two years, we used the profits to fund building improvements and build up a contingency fund.We are now able to take $3000 a month out of our LLC. 

I'm young, I want to build up equity and cash flow through apartment related investments.What steps do you reccomend I take?

I see on popular on-line forums many people saying not to syndicate a deal until you start slowly and build up a track record...Worse they are saying not to pay a "guru" thousands of dollars that claims they can help you do that...Just take it slow and safe...I do agree there is a lot of wisdom in that approach, don't get me wrong....that is the "safe" path for most people...But to me that's like saying study hard, get good grades, go to college, live below your means, and accumulate a nest egg and pray that you die before you run out of money...that is also the path that most people choose...But what if a newbie can actually successfully syndicate a large deal on their first deal, by getting educated, leveraging people with experience (attorneys, investors, mentors, brokers, prop mgmt companies, etc) and learning to do it "right" in spite of all the risks?

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I strongly recommend all the tax advice given by my fellow CPAs.Amanda HanBrandon HallTax Reform Update – Brandon Hall and Amanda Han Linda Weygant GuidesUltimate Beginners Guide Forum StickiesBP Calculators or spreadsheets uploaded by membersMy Favorite Books I have to say all of the BP books…right?

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I strongly recommend all the tax advice given by my fellow CPAs.Amanda HanBrandon HallTax Reform Update – Brandon Hall and Amanda Han Linda Weygant GuidesUltimate Beginners Guide Forum StickiesBP Calculators or spreadsheets uploaded by membersMy Favorite Books I have to say all of the BP books…right?

As suggested, search the VR platforms to find other places in the vicinity of your place and look at their photos and prices to get an idea of how you can price your own place, and then assume an even lower price especially as you get started and try to build up good reviews.

Install the bathroom on the sloping floors, will have to build up shower area to be level but no big deal.Pros- Fast, cheap, income starts soonerCons- Obviously the annoying sloping floors, renovating kitchen and adding bath on sloping floors pains me.ConclusionI can put in the bath and kitchen leaving the floors as it quickly and at wholesale cost, I'm confident this is the route most people would take in my circumstance.

Obviously buying more insurance hurts cash flow, but might help you build up your portfolio more quickly.