thank you all for your insight. preferred returns and distributions are super confusing to me. anyone know of a youtube video, book or podcast that explains the capital stack a little more in depth?

Upon any further readings at depth, these syndicators like Metallic Blue Developers appear to have been operated and managed fraudulently by others (Brian Dozier et al).

Its also an ideal forum to talk in depth with other seasoned pro's to avoid lost time and money.  

Tried to find tax delinquent files on my towns website with no success... any in depth ideas in this?

I researched all these different corporate structures very in depth when i was starting and now that I look back, I wasted a lot of time trying to "protect" myself from the 1 in a million things instead of just focusing on the main goal of acquiring and operating RE assets.

If you rent the condo out to others it would be the same thing -- you would need a policy that only covers the interior walls -- it would be an HO6 tenant occupied and depending on the carrier you currently have you would either change the occupancy status or you would need a different policy-- in my experience 9/10 times they require a different policy. 2.State farm does not really ask a lot of questions -- their quoting process is not as in depth as it should be.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

However for 9k that's a drop in the bucket for in depth knowledge like this..

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Take a more in-depth look into their employment and income verification.