Good to see you taking ownership and learning from the lessons. 

You could also buy the property and give them the option to buy it back, that way you have ownership(control). 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Before you do anything contact an attorney in your area an double check their ownership rights if they can redeem you.

I suspect in many cases the frequency of ownership change is an indicator of the quality of the property. 

-syndications and direct ownership of small multis are very different strategies. 

Then we stumbled upon "fractional ownership".

I recently bought a 6 unit in Barstow and I knew it was a value add play where i had to spend some money to remodel the units to get the building filled.With lost rents and capital improvements i have spent about $50,000 in 8 months of ownership to stabilize the 6 unit property. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

The entity which you are receiving K1s from looks like a fund of funds entity; however, the Waterford Grove Houston LLC entity looks like possibly a direct ownership entity.