If a legal issue arises, only the assets owned by the LLC (the rental properties) are at risk, not your personal assets.

Well they askes]d me if it was ok, but what you said makes sense, but I'm curious if I legally can deny, 

LEGAL CHALLENGEThere is a lawsuit challenging the law.

My guess is, they con investors into $50,000 or more and spend it on their sub-par lavish lifestyles, making promises they can’t keep doing services they aren’t capable or legally able to perform.

Changing your mind " Is a foolproof legal defense .

I know @Kaaren Hall who founded Udirect is extremely knowledgeable and a wealth of info but not sure if she could even comment as this seems more like legal and tax advice

That being said, is there any legal requirement to disclose there was a fire with a prior owner at some point? 

This applies to nearly all buildings six (6) or more units in NYC or any of the Rent Stabilized localities throughout New York State.I'm NOT active in New York City (or suburbs) any longer due to these guidelines or myriad other anti-landlord rules & laws; however, I can say many realtors do NOT understand what they're selling so BEWARE:  I've had realtors say the units "have preferential rents, isn't that great?"

Underwriting, deal structure, legal processes, due diligence, asset management, investor relations - all very important components.Syndication can be a lucrative strategy, but it's not something you can just jump into. 

(Preferably ethnically) What are some legal (non- ethical) ways you have heard or seen?