The Pro-Formas show a 12 cap rate On that one.  

I want to form a company that manages our assets or we would form a company and buy our own homes. we could merge many daily activities like grocery shopping and squeeze more savings from buying  together and turn saving into investment dollars.

You want to calculate your pro forma based on how YOU will run the Park not how they have...

How does your pro forma look under any of your alternatives?  

I would form a relationship with a flipper who was comfortable with owner-financing and don't worry about the bank at this point (if you decide of the LLC/Corp).Why a flipper?

Now I am trying to form a LLC as everyone says LLC is the way to go to protect my personal assets from any trouble in future.

Our current B+ apartment complex is performing substantially better than the previous C- property even though the C- Pro Forma would look much stronger.  

The crowdfunding platform will form a separate LLC to pool the investor money, and they will own a percentage stake in your property-level LLC.As for the state that it is formed in, maybe an attorney can comment on the advantages of separate states but my experience is that I would form in either the state where I'm located (Illinois) or in the state where the property is.  

Projections and pro formas are as rosy and promising as an online dating profile.....most aren't close to reality.  

Never take pro forma's at face value, verify everything.