Obviously meet all safety requirements.

Like Jonathan said, in-person meetings with other investors is the best place.

Limited inventory typically drives up prices for both rent and equity, as high demand meets low supply.

Plus for Bay area folks the fact that you can scoot over and meet them in person is a plus.Good company  and if anyone can make it work in todays market its them .. in my opinion and again I am an investor so take that with a grain of salt..Go meet with them.. do your due diligence and if you think its a fit jump aboard.

Also, when it comes to negotiating the rent: - Should I ask for a phone call or virtual meeting to discuss the price?

This means that the property doesn't qualify for the extension, probably because it doesn't meet the covenants such as DSCR or debt yield, so the lender is making an exception and is willing to grant the extension in exchange for the $4 million.

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

I think it's more about the people honestly - if I decide that I'm going that route than I'd narrow it down to 4 or 5 cities and I'd try to meet some agents and property management companies from there. 

Rent ready in leveraged RE in this market does not produce returns that meet my expectations of return for my effort. 

However, everyone involved would need to meet the IRS requirements for a 1031 exchange.Finally, regarding transferring an individual property from the partnership to a member directly, this could be tricky.