There is absolutely no excuse for the tardiness of financial reports, or information to investors, UNLESS the sponsor has run out of money to pay account/attorney, or employees; the sponsor is trying to come up with a way to “creatively” deliver misleading information, or the sponsor just doesn’t want to acknowledge reality.  

Condos are starting to get condemned, which means people are having to vacate units.I'm telling you right now, I'm a JD (not a practicing attorney) in Florida whose business is being an insurance expert for carriers, working with engineers. 

That's held in escrow, usually by an attorney.

@Emily Poerio, since you're beginning this journey, beware of the overly complicated entity structures some attorneys say you "must have". 

That's interesting that your attorney advised that you go with weekly rental collection. 

@John Malone are you a tax attorney?

The property may be deteriorating as the debtor delays and as his attorney stretches out initial court hearing (in BK court) for 6 months.  

You should consult a local attorney on how to resolve your court case.

I’m also exploring opportunities in Dayton and Northern Kentucky, so if anyone is active in those regions, I’d really appreciate your insights as well.A bit about me: I’m an attorney by trade but also work in the real estate market.

Used a local attorney to handle the closing docs for a lower fee.