Let them know that there will be routine quality control checks/inspections so that if your third party inspector finds any issues with quality, the GC will be responsible for paying for the correction.These are just some theories that I think will help and plan to implement when I operate out of state flips.

That part is not as straight-forward.Such operating agreements are frankly costly when done correctly.

That's how I see how these different businesses operate, by what type of properties they're advertising.Good luck on the exam, and good luck in your search!

Quote from @Jaycee Greene: Hey @Daniel Stegelman, how much are your operating expenses?

The most important part of a syndication is the person and company that is operating the syndication. 

If it's a layered LLC, most lenders will need to trace a warm body on the operating agreement which will involve a bit more paperwork trail.

Balance Sheet is a snapshot of the company's financial health at a specific point in time.Income Statement is a showing us the health on an operating POV.

So you still need to sign.Have you provided them a copy of the operating agreement of the LLC, certificate of good standing etc.

Are there any insurance companies that people would recommend for this investment strategy that do operate in the Austin, TX area?

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues.