This just seems like it puts me in a potential bad situation if something goes wrong during the process.  

He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.

I have never been able to utilize any DPA with any deal as of now, but it is fun to keep it as a possible tool for use in the right situation. 

If you’re unsure about which specific account to choose, ask a local CPA or banker, since every situation can vary.

The honest answer is to be on the safe side, the property you're referring to: GC524550 2811 SW ARCHER RD, #V-177, GAINESVILLE, FL 32608 in the Brandywine neighborhood is one of the condos that are not in a good financial situation.

They're a great resource for these situations!

Keep us posted on how that situation goes for you.

Same tax situation and more likely higher potential to appreciate faster.

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

I think you'd find it very helpful in your situation.