With these types of properties it is best to just not allow any pets, whatsoever.

If they had any means whatsoever to buy it, they'd do it now instead of 3 years from now when prices are likely to be worse. 

I handled several deals with Owner Financing in the 1990's and closing attorneys had no problems whatsoever with it.  

You never reduce the amount of rent owed for any reason whatsoever.

They are supposed to protect the consumer but they have no teeth.

As easy as this sounds, it's not simple and usually like pulling teeth.

When you have the livelihoods and life savings of people in your hands, it is a massive responsibility not to be taken lightly.If you aren't a total newbie, but haven't done a syndication, the smaller the better to cut your teeth on the new issues related to managing investors, communicating, managing distributions, dealing with SEC attorneys, properly filing K1s, etc.You picked some curious numbers as choices for the number of units, so I choose not to choose from that list.

Even if it will cost me a little bit by hiring an attorney, or something else with teeth. 

Ok so I am not a cold hearted person whatsoever.

But, this completely depends on your guy's situation and what's in your best interest as they are not the same whatsoever and each requires different types of work.