An LLC is not necessary, but there may be benefits if you understand what you are doing and do it correctly.

Quote from @Diran Deukmajian: Yes, you should send them to collections.Andre is correct that you may not get anything back.

Closed in September after 3 appraisals to get correct valuation.

It is not a distribute if setup the correct way.

So we are open to suggestions and corrections, on price, and what else could be added, etc.

Correct. Fully

Assuming this is correct, how are investors able to get decent cash flow out of a rental?

Cannot comment at all as I know nothing about this fund, but they must be experiencing greater than anticipated issues since last year they noted distributions will commence in Q3 of last year and they excel under the current economic conditions but if Jeff is correct, they are still in the red

Plus Market analysis is the only thing you can fail at that you can’t correct.  

Now keep in mind he at least did 1 correct thing, applied to be added to lease.