Consult with an Attorney: If you’re not getting any satisfactory responses or if you believe the syndicators are in breach of their contractual obligations, consulting with an attorney who specializes in real estate syndications is a smart next step.

I believe you can set up an LLC yourself through the state website.

I don't believe it's possible to cover every possible contingency on what can go wrong, but I also don't believe in adding contingencies as I've been around long enough to see people be sued in other arenas for all kinds of dumb stuff that isn't warranted but is allowed. 

They may just use the word "reasonable" in the law but I believe in most cases reasonable has been upheld to be about 2 weeks.

Goes with the job, I live and work in the territory I work in.The following things I believe to be true: you could definitely do this; you will definitely take on more risk.Food for thought: building a strong network of folks you trust would be a must.

@Calvin ThomasI think people need to realize BP (I believe this is the case) does not refer anyone.

I have a pro membership which is I believe $5 / month and it is well worth it. 

And so, knowing that RE investing is my ticket to financial freedom as well as how important a location/market is for investing, how much do you believe I value the RE market while looking for my first job?

If you believe that rents and property values will increase in the future, it might be worth accepting the negative cash flow for now.

I believe in CA real estate which has low inventory, prices and rents are solid, and theres a ton of demand.