While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.

However, it was a blessing in disguise because I have learned what NOT to do and have worked hard at establishing what they offered on my own with my own VA's and it has been less expensive and more profitable.

But theses people were in large part those with means, so all it takes is the lawyers to whoop people up enough and it's a tornado of suits upon suits upon suits. 

Would I still have to go through closing lawyers and get the deed updated to my name or LLC? 

Hopefully your lawyer also mentioned insurance- title and hazard.A quitclaim deed transfer can hurt your title chain and title insurance. 

I stayed on their "a@@" for weeks and pulled the we are getting a lawyer card.  

NEED HELP: I am looking for assistance in lawyers and other experienced syndicate mangers to seek advice and some guidance. 

For most people this will require a lawyer.

I’m considering consulting a lawyer to clarify these issues.Two weeks ago, I reached out to the tenant via email to start a conversation and propose a win-win renewal, but I haven’t heard back yet.

Not only does it hurt the returns, it is a very attractive target for ambulance-chasing lawyers and title fraud.