I am looking to connect with the investors there as the promotors are continuing to take Asset Management fees to the tune of $450K a year (on top of PM fees) even when their payout to the investors is around $20K a quarter (not meeting preferred) and the overall fund is negative about $450K.

another property to the portfolio, and a continued relationship with a live long client Lessons learned?

My question is, what is best way to scale and continue buying properties without depleting all of my money?  

There are still a ton of jobs and people continuing to move into that market. 

We’d like to continue with this project remotely, but the idea of managing contractors and overseeing a renovation from afar feels a bit daunting.Have any of you undertaken a similar project?

They aren't the actual bank so need to upcharge these fees and hoping in volume they can make enough to continue operating. 

If you allow this to continue, they will only get worse over time, and your losses will increase.I suggest you hire an attorney.

Surrounding yourself with like-minded individuals and continuously learning is one of the best ways to build a strong foundation in this space.I’d love to be a resource for you as you explore different strategies.

Very solid market, been investing there over 10 yrs and the rents continue to climb! 

another property to the portfolio, and a continued relationship with a live long client