You LP lost everything.Other ways, poor property management team isn't managing property well, and syndicator bought in tertiary market with only one or two managers available and no way to self manage.  

Since you are married and live in a community property state, the IRS treats your joint ownership as a single owner for tax purposes, meaning you can answer "No" and proceed with disregarded entity classification.If you want to eliminate confusion going forward, you could dissolve the current LLC and set up a new single-member LLC under one spouse’s name, ensuring automatic disregarded entity treatment without needing to file Form 1065 in the future.

All well and good.

Hi Ashley, We have found what works well for us, as well as our clients is to ask them during the on boarding process if they have any preferred contractors.  

Setting financial and lifestyle goals and using lessons from your current setup can help.Good luck!

Very excited about how well they are doing.. they are not holding but I am helping them make 250 to 400k in cash a year or more by financing thier deals for them.

Best wishes to you as well! 

Renovation work throughout both apartments, gutted and refinished the basement as well as extensive work in the private backyard.

Absorb as much as you can, find the passion and you will be reaping the successes well before your 30th birthday.

I wish you well in your project.