Thank you,Nirav Since you already pulled the trigger...and are a limited partner...this means you have the benefits of that (i.e. no liability beyond your investment) in exchange for generally having no ability to vote or have a say in how the investment is managed. 

Typically we get a copy of their license / identification and pull credit etc after they sign a credit authorization form.Typically notarized documents are needed when recording them with a county, but for a contract it’s very rare to have contracts like a lease notarized.

We're right at the start of the process, the chicken and the egg, and a little confused on how to pull this together.Essentially we need quotes to see how viable this actually is, but we don't have final plans to quote from, nor is land purchased.We've looked at Altus, and know what pricing SHOULD be.

You might want to think about pulling up the carpet and taking a look. (2) Maybe the water delivery piping under the floor, hot or cold, has developed a pinhole leak and is spraying onto the subfloor from below. 

Of course the bolder the target, the less likely it is and probably less than .01% of people could pull this off.More realistic advice is to get as high of paying W-2 job as you can, save up, put 5% down on a 2-4 unit, manage the heck out of it, and then leverage that experience to do a larger deal using OPM.

It pulls booking revenue only from same-sized homes in the surrounding community.

Did you keep that money in the multifamily or were you able to pull it out after driving up the value of the properties?

Entities that are not "disregarded" need their own QBO to ensure their balance sheets remain 100% accurate.We do run into an issue every now and then with some transactions that don't allow us to designate the customer/property but we've found ways to get around this and still have the transaction reflect the appropriate customer/property.This allows us to pull all the financial reports our Clients and their tax pros need to see.I'm in no way saying our way is the end-all-be-all but it works for us and our Clients' tax filers/advisors.There's a FB group called, "Bookkeepers for Real Estate Investors".

Currently the entire project is being funded by our own cash and we are looking for financing options to pull out our capital once our asset is stabilized. 

I'm looking at a community for people to move into and support each other, move of a progressive retirement type community, but we will not be in the city limits.I have thought about pulling one up beside my house and renting it;)