It seems like in scenario #2 if things go sideways and the LLC is bankrupt I don't really have my name on the building or any collateral.  

Most tenants are fairly good but when you get a bad one in Ontario they can very easily bankrupt any landlord with the full support and assistance of our government.If you have a choice I would advise not investing at all over selecting Ontario.

Then I hit them w the standards    How much income, credit score, have you ever been evicted,arrested or bankrupt and If so please tell me more.    

They believed they had found a way to eliminate financial market risk and became high leveraged, borrowing $40 for ever $1 of capital (meaning if the market value of their holdings declined 2.5%, they were bankrupt).  

I just don't understand after all the damage they've done ruining people's lives, bankrupting people, taking their life savings law enforcement just gives the a pass.

Then it went bankrupt.

If it costs another $2 million to finish and is worth $1.5 million, you've just bankrupted yourself and any partner you've taken along with you.

Guy Laliberté owned a small circus group that was about to go bankrupt. 

Overall, each town and each investor will need to pull together a number of options to create what everyone deserves - a clean, habitable home that doesn't bankrupt the family vs. a reasonable rate of ROI... not easy - but "doable". 

The fine could bankrupt you, and the guilt for causing irreversable illness could be worse.