NOT a Quitclaim Deed, because Quitclaim Deeds do not fully warrant the rights and covenants of property as does a Grant and/or Warranty (or equivalent depending on state) does.

The reliability of this method depends on if the costs provided by the contractors or subcontractors were based on actual costs or estimated costs.

Which means you are now liable for anything they do.So, time to give the tenants notice to get rid of the dogs or move.If you have them on a month to month rental agreement, you can just give them a 30 day notice to move (or more, depending on your jurisdiction).  

@Rud Sev, I would ask the syndicators you are considering if they have any sample K-1s they have issued in the past to try to get a general idea of how they treat their common taxable items.There are a few things that are likely needed to be outlined:Your capital account balance for the investment, i.e. how much money the syndicator is saying you have outstanding at any time and used to calculate preferred returns, can vary from your taxable capital balance shown on K-1.  

Just depends how you go about the process and what loans you use.

Heloc interest deductibility depends on how the funds were used.

Many basement access doors are not 36" wide depending on the age of the property.

The amount of capital required from your savings to purchase multiple properties depends on the appreciation rates.

With all of that in mind, I think it would really be dependent on where you see that specific market going.

A basement conversion could make sense (either STR or LTR depending on how much work/headaches you are willing to take on).