But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

Make an informed decision if you think people are properly trained?

There are a lot of good meetups for real estate investors in the area that would be good to grow your network and learn from others that are and have been in your shoes as a new investor, message me and I can share on some specific monthly meetups.Also sharing some multifamily data, this is Boston proper so it has an interesting trend compared to the rest of Massachusetts.

Kentucky is definitely capturing the eyes of manufacturing!

It sounds like the proper expectations weren't set when you took them on.

Additionally, ensure that all necessary notices for filing an eviction have been posted and properly documented in your records.

Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled? 

With that comes different exposures and risks that they need to properly rate for.

If anyone who is knowledgeable, please chime in so I can relay such information to my friend so they can have proper step to follow.

Not to say that you'd pick crappy materials, but contractors with experience have manufacturers and suppliers that they know guarantee their products and that helps them know they can stand behind their work.