And that it takes 12 to 18 months for a house stabilize (no repair calls for 4 months so far). 

The borrowers could be paying their mortgage to scottsdale or scottsdale most likely sold the loans - when you invest in a syndication you have rights to manage the specific assets unless he gets a court order which there are also many other investors involved. 

Get the AZ rental stabilized with a tenant before buying anything else.

This usually involves hiring a snow removal service or having a clear policy for who is responsible for clearing snow.### Heating and Air Conditioning Common AreasFor a property like yours with a hallway, staircase, and basement laundry area, it's not always necessary to heat or air condition these common areas.

Steps involved:1.

This may not be a worthwhile pursuit if you don't fall under that category because there is some added risk involved.4.

Yes, getting sued is a risk factor and I've been involved with frivolous lawsuits which are not fun, but in my opinion you'd be in a much better spot owning a property in your personal name that let's you keep an extra 10-20% of the purchase price in your pocket as emergency funds, as opposed to buying the loan under an LLC that requires every last penny you might have to make the higher down payment, then you have to operate on a shoestring.

Did you ever have to get a lawyer involved or did it not go that far?

Out of the many programs I've been involved with his is one of the few  I can truly say is worth the money. he's smart and knows RE.

If you don't have VAs or don't have other owners involved, it might be all you need.