When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

With so many companies like Intel, Meta, Amazon, etc. moving and developing here, the population and job market are growing so rental demand and appreciation potential are strong. 

The opportunity cost of losing potential market gains in your retirement fund should also be considered.

This is where I'm very inexperinced and don't understand what is standard for industry or what could potentially bite me down the road.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

All too typical park owner who took all the profit out of the park without reinvesting in the business then wants to sell you the potential he was too cheap to invest in. 

Quote from @Christian Styles: Potentially able to help you find someone but I would need to know specifically where the property is in order to know who to recommend.  

Alternatively, restructure the loan with equity participation for potential capital gains treatment at lower rates.

This will cost money to maintain, cost money to manage leasers, subject you to the will of tenants/leasers should they damage something, should someone get injured, your money will be gone (for now), subject you to the will of the market, interest rates, potential market volatilities.. you will need a lawyer at that amount for sure and a good CPA. 

I do believe if the potential investors asks for an opinion, if you provide your opinion it should be an honest opinion and not necessarily what will achieve the commission.