This is not a good situation long term, we should all be collaborating on how to disrupt and redirect the opportunity for wealth accumulation back to our fellow humans. 

Any investors in the area willing to collaborate?

Initially I’m looking for properties/listing (multi-unit or apartments), contractors, real estate attorneys, real estate wholesalers, and other partners that can collaborate.

@Nick RuffiniI am NOT an SEC attorney BUT that sounds like a slippery slope.Find a team of operators that allow qualified sophisticated investors to participate in their syndications.506b allows you and you friend to invest (separately &/or together) and it's 100% above board if you qualify as sophisticated.Really get to know each-other (it goes both ways), build confidence and trust over time; learn the business inside and out and when they present an opportunity that's aligned with your criteria - invest alongside of them.The SEC requires them to have a substantive preexisting relationship before collaborating on an investment.

A view upstream... inner workings of a hedge fund:1) Bidding, performing diligence, assessing risk, and taking down large pools2) Large scale asset management: Identifying low hanging fruit, where to focus resources, ROI targets, when to cut bait on an asset, KPIs, ...3) Servicing: When my servicer tells me what I need will take extra time because of three huge pools landing all at once, I wonder what the process of onboarding at scale and continued collaboration between the fund and the servicer looks like.

Either way, unless they are truly giving you the house, you need to collaborate with your parents since they own the property. 

If you are ever interested in connecting to collaborate let me know. 

What do you use to track different projects and keep everything (invoices, receipts, contracts, other docs) in order and easy to collaborate with everybody on the team?

Posting a summary of said due diligence to BP would allow other investors to collaborate on the topic, plus maybe the sponsors could step in with clarifications on their rationale for certain decisions.Yet...

Always love connecting and collaborating!