Hi Folks,                  I am just starting out as a Commercial RE investor and was looking into one Property which is rented out to the Veterans Affairs ( US Govt ) .

Owner said Guy #3 called him that morning and needed a few days off to get things sorted out, he found inappropriate text messages on his wife's phone from guy #1 and suspected the 2 of them were having an affair.  

Learn all you can from your superiors there, and as you gain their trust about personal affairs ask what kind of things they invest in.  

Investing for returns has become a family affair as our kids (10 and 6) are taking active roles.

If you're going to lose 2 or 3 hours of timezone when you fly to your EST property, it's an all day affair.

We don't really pry into our tenants affairs so we might not know if a tenant's "guest" overstayed and became an unauthorized occupant-- unless they caused trouble that caused a complaint or the tenant told us.

They could have taken care of the property and maintained it so it didn't need to sell to an investor, they could have handled their affairs more responsibly to not need to sell the home, they could of done many things we view as common sense but they didn't and they have their reasons why. 

I will be self-managing the rentals, renovating/updating when necessary, handling all tenant affairs/calls/etc, and physically maintaining the property - however I will be coming in with little or no money. 

But I have to believe, if this is a major installation, there is some kind of community relations or public affairs office where the locals can call and ask to be referred to the 'proper channels'. 

While the general rule is that the law of the state of formation should govern the regulation of the internal affairs of an entity, including the liability of an owner of the entity for obligations of the entity, it would appear to be a stretch for a jurisdiction without series LLCs to recognize the liability limitation function of the series within the LLC on the basis of the internal affairs doctrine - the effect of the liability limitation function applies to third-party creditors of a series, not just to the internal affairs of the entity and its members inter se, nor, unless a veil-piercing claim is involved, to the liability of a member for debts of the series or the series LLC.