If you get it back expect to pay a good amount in legal feesIf you’re friend did the same they are up the creek too.Hard lesson to learn.

Do most get a legal review for each fund they invest in?

I have invested a large sum of money with a company (individual with
LLC) who has filed chapter 11 bankruptcy. I am the 1st position. I was
prepaid 1st 6 months of interest. 8 months have passed and no
additio...

It seems these inevitably run into problems as the investment projections are not met, loses begin to pile up, SEC compliance issues are ignored, and numerous legal actions are instituted against the sponsor.   

Even if every Concrete crew was "legal", wages would pull them to other low paid laborer jobs such as landscaping, house framing, meat packing, etc, causing wages and cost to go up for new Self Storage Construction, let alone availability.Security Systems- yep sourced overseas, China.Interest rates going lower, but I expect Inflation to go higher.

The good thing about househacking a legal multifamily unit is that lender allows you to use the vacated units of 75% market rent as an income to offset the potential current mortgage.

Quote from @Corey Gelineau: The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property.

From what I'm reading here, and we immediately sought legal counsel on this, they're totally free to move out anytime they want.

An LLC does not provide much legal protection, it acts as a legal firewall to separate assets.

A non conforming unit is technically legal but it doesn’t meet current zoning (but possibly was once a legally functioning unit as a residence).