At present, a fully drawn $250K HELOC with (optimal credit) would offer an indexed rate based off of Fed Funds or Prime + 3-4% rate (depending on LTV, Property Type, Credit and LA) currently pricing at between 8.5-11% (11.5-13% w/lower credit) and interest only payments of +/- $2000 but the qualifying rate and payment for underwriting would be nearer $2300+ (on the low end) plus the 1st mortgage, and accurate taxes and insurance. 

I collect the rent in a business bank account that I opened with a sole proprietorship.

You can’t use a percent, none of your capex cost is affected by the amount of rent you collect.

Do you collect rents and then distribute owner payouts + your commission using Baselane? 

Your PM was using something called pay near me/retail payments for collecting cash payments from tenants at the CVS.

Can we all decide to collectively kill it? 

Has anyone ever actually been sent to collections by them? 

with over $5m it does not have to be invested optimally to be enough for your parents to live comfortably.  

We've already collected around 20,000 pre-reservations, equating to approximately $30 to $40 million, and have received hundreds of requests to build individual units.We’ve completed the first unit, which has passed the final county inspection under a residential permit, and are actively working on the second phase.

I'm guessing the management company would collect all rents, pay expenses etc and the individual LLC would just own the real estate.