To summarize I would avoid areas in Detroit as you describe your area to be.

The following summarizes the most significant features of the LLC:limited liability for owners;pass-through of income to owners, avoiding double taxation (unless corporate treatment is elected);ease of operation--fewer filings, fewer forms, fewer start-up costs, fewer formal meetings and record keeping requirements;fewer profit-sharing restrictions--earnings distributed as members see fit; not based on percentage of capital contributions;entire net earnings of LLC passes through to owners in the form of self-employment income subject to 15.3 percent SECA tax (self-employment tax for Social Security and Medicare).The IRS does not recognize the LLC as a taxpayer classification for federal tax purposesFederal tax treatment is separate and distinct from the limited liability provided to members under state law.

If you speak to the GC or JV partner on the phone, send them a quick email summarizing the content of the conversation and the outcome.- Verify, verify, verify: Do you know for sure that the GC has received more money than work completed, at inflated pricing?

To summarize, I'd digest all the information, study the data and then access probabilities to each possible scenario, viewing it from the lens of your own beliefs.  

To summarize,  if the deal closes both sides win because they both got what they wanted. 

When I use the standard board of realtors contract, I can usually summarize the contract in 15 minutes or less in a way the seller can understand and not want take a few days to review with their lawyer. 

To summarize, I'd digest all the information, study the data and then access probabilities to each possible scenario, viewing it from the lens of your own beliefs.

But I did note some variations across markets and geographies and to summarize ---if all the other like units in your area have them, you should, too.But even if the norm is to supply none in your area and price range, also consider wear and tear if they move this in and out every single turn over, and your tenant pool (will they have these in their sedan?)... 

To summarize his post:However conservative you're being with your analysis, be more conservative.

So to summarize, relationships are very important and team up with someone to be able to access more properties.