Key requirements include investing ≥75% of total assets in real estate/cash, deriving 75% of gross income from property rents or mortgage interest, and distributing 90% of taxable income as dividends” Just a “technical” clarification; the investments you reference are NOT REITs, they are in all likelihood structured as manager managed limited liability companies with the investors as NON MANAGING members and the organizer as manager or managing member; or less likely organized as limited partnerships, with the organizer as general partner and the outside investors limited partners. 

This purchase will push me over the 7 doors mark so want to make sure I'm disciplined and organized as I grow.

We’re in touch with the lender to clarify the assumption timeline and underwriting requirements, and we’re organizing full financials (NOI, rent roll, recent capex, tenant details) for qualified review.Also, in your experience, where else would you suggest I could look for potential partners on a deal like this? 

Hi Matt, I am a licensed real estate agent and investor here in Columbus Ohio - so you don't NEED to open an LLC but I personally opened up an LLC just so I can separate and organize my real estate agent expenses much better and effectively.I have an LLC for my real estate investment properties and an LLC for my real estate agent business.

How you organize it (app, spreadsheet, paper, memory?)

If it's functional, expand the kitchen instead.Don't overthink the basement.

I want to bring Unit A up to $940 to match Unit B’s base rate.The Risk:The building has deferred maintenance (siding and roof issues) that no immediate attention needed but they are heading to the end of their useable life and I’m planning to address "as I go" since everything is currently functional.

Most people wait until things get messy before they try to organize it.The simple way to think about this is separating three different things that tend to get mixed together:1.Legal structureThis is where the LLC usually comes in.

What's everyone else using to stay organized?

There are also many organizations that host real estate events that are open to the public - it's just a matter of being added to their email list.