The building's Property Manager is sympathetic to the owners at large, but says they can’t do anything until instructed by the Board, and they indicated the building’s lawyers would only respond to Board members.

In North Jersey, buying is difficult from my beginner perspective with high prices, property tax, etc.Barrier to entry feels high in my area.

Does the LLC legally own the property that was purchased? 

And buy 2 replacement properties.1.

I could say a particular town or area, but if there aren't any, many properties for sale that doesn't help. 

You might be surprised, but your rental properties have more in common with dividend-paying stocks than you think!

Focus on smaller single-family homes, condos with low HOA fees, or multi-family properties in these regions, and build a reliable local team of agents, property managers, and other professionals to ensure a smooth investing experience.

Could it be considered piercing the corporate veil if the mortgage for the property is in your personal name but the deed is in the name of the LLC? 

Which area did you buy your first property in? 

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.