but you are right in not handing over any money until they are out and you have the keys.

Hi Joseph, I own 3 SFR long term investment properties, and have gutted 2 down to the studs and rehabbed.Then I help out a handful of investors in various ways.

I wouldn't say it's a red flag but I would ask how much reserves the property currently has on hand. 

Doing so ensures they've had notice sooner rather than later, and also so they know I'm running a business and not simply enjoying a hobby in real estate.On the other hand, if the tenant doesn't pay the rent when due, the law in Michigan only requires a 3 day notice.

And as a member to an organization that manages well over 10K doors I can say from 1st hand knowledge it would take a LOT of people. 

It does seem syndications are among the most hands off options for RE investing.

And I dont say that lightly I lived there for 1 year and was managing these homes daily personally I saw it  this is not 3rd hand..

Things can get out of hand pretty quickly. 

In San Francisco, this choice is taken out of your hands and is instead a determination made from and by the Planning department.From an Investment POV, you are absolutely correct that combining the lower and the ground floor units is the best option to preserve your ability to perform a fast track condo conversion and generate the most equity in the shortest amount of time.

But we have a handful of MTR and there is no data software..