It currently costs me around $1,000 just to own and operate while it is at full occupancy.

Should I be worried about basing long term financials on a government organization that is roughly $20 billion dollars in debt?

Rehabbed Property with a Veteran tenant from Non-profit Organization producing 650 a month income guaranteed.

I’d run like a bat out of hell from a lagoon or a water treatment plant , though.Again, it is best to get some input from an experienced operator but consider this:  if a newbie who has just been reading books and listening to podcasts can pinpoint red flags, you know that’s a deal to run from.  

The property is currently producing 3 times the market rent in this area guaranteed through non-profit organizations What made you interested in investing in this type of deal?

The last deal I did was a 22 unit building...I brought the deal, ran the renovation, and organized the lease agreement.

the auctions are held in the parking lot of a title company quite organized actually.. also keep in mind Like Oregon HML must be state licensed in NV.. 

Develop an operating agreement that spells out the purpose of the LLC who has what role, who makes decisions, how are differences between the two of you resolved and an exit plan.Have an attorney draft up the document so each party is protected.  

While the organization is still allowed to establish guidelines such as minimum and maximum unit sizes and minimum rental terms, they are not allowed to prohibit a homeowner from adding an ADU on their properties.

Not to mention you can scale infinitely with a Series LLC.You can also set up an additional traditional LLC on the side to perform your "operations" that would separate the liability for operations from your assets, or properties.