We keep them in good shape though and have a maintenance manager hired as an employee to stay ahead on upkeep and maintenance. 

If dad qualifies for a Solo401k (legitimate self employment activity and no w2 employees other than spouse working more than 500 hours annually) he can take a participant loan up to 50k or 50% whichever is less and use that for any purpose including loaning money to a prohibited party.   

Two of the occupied units are leased to the Seller's employees or contractors.

Greetings BP Community,I'm an avid Real Estate investor alongside my role as a W2 employee, and I'm currently seeking a financial advisor, preferably one who operates on a fee-only basis.

Not a lot of employees, and the employees they do have are overworked. 

I would also do some background work and check references with previous clients of your PMC and collect the PMCs background due diligence they conducted on employees and contractors.

Typically if you want to get out at some point there are provisions to sell share to the GP's, sell to another investor already in the investment, sell to outside investor ( with GP approval ).A friend of mine owns about 15 million sq ft of retail shopping centers and has a staff of about 150 employees for property management.

My strategy and experience has been that if I buy right under those conditions, even a couple of those properties will make me better off by a wide margin then I would have been with social security.i should add though, I'm a full time w2 employee with other retirement funds. 

@Alecia Loveless  After reading your post, you should be mindful of inadvertently creating an employee relationship, as I suspect that's not your intention. 

However, we aren’t W2 employees, all that income is from 1099 independent contractor work, which of course will limit what financing we can qualify for.