If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

That said, we do lending out of our SDIRA and there are some considerations about prohibited transactions and set up (checkbook control or custodian managed, for example) etc. that should be reviewed with a custodian or SDIRA expert.

There is not much I can do, I am not the parent of the tenants, and no control over the neighbors. 

This is because the transfer to the LLC is considered a change in ownership, which prompts a reassessment based on the fair market value at the time of the transfer.Admittedly, property tax implications are not my area of expertise, so I strongly recommend consulting with a local real estate attorney or tax advisor for precise guidance tailored to your situation.Additionally, if you need property management services for multifamily properties in Miami, Curbelo Capital Management specializes in this area and would be happy to assist you.Best regards,Diego Curbelo

And when the music stops it’s usually crickets, as many LPs are embarrassed to admit the losses and the syndicators prefer a hush hush environment (which is why some LPs don’t want to name them.)Personally I have always found syndications too risky, especially given that I have zero control, other than reading their disclosures and trusting in their accuracy.

The risk is that it doesn't appreciate - you have no control over that.

this is somewhat true. depending on the size of the "skeleton". what we found from being in renovations for 8 years and new construction for the last 5 years nationally is that what actually makes the money is design, entitlement, land acquisition, etc. you can pull every lever in new construction. it's more active and you have all the control. if you don't make money it's your own fault. talk to any lender who looks at deals they would agree. banks prefer ground up at the regional level who see deals than existing renovations.

Always be in control of your property. 

Next,3 separate thermostats is a good sign, but you need to ask the inspector how the thermostats are controlling the HVAC.

I obviously would want to have control over the property and maybe a pre-determined purchase price?