Which makes me think it’s a smaller operation.

Many investors start their journey by diving into individual distressed property deals, but if you want to grow into a high-volume operation, it’s essential to change your mindset, strategy, and execution.

Verify with the city.Personally it makes no sense that an LLC would be able to operate without being onsite when it is required.The only thing that sticks out is the grandfathered in statement.

Another right of an LLC Member is to get copies of all Operating Agreements.

What, if any, are the ramifications if the operators did no due diligence to make sure investors needed to be accredited? 

Registering as a foreign LLC allows you to maintain continuity with your existing business structure, branding, and EIN while operating legally in the new state.

My goal on this platform is to expand my network and develop relationships with brokers, owners/operators, investors, and others who are looking to learn more about multifamily real estate!

if you have an LLC and both properties are under it, you just need 1 operating account.If both are under your personal, 1 bank account specifically for the rental is enough for operating.Security Deposits should always be a separate account altogether.

You didn't mention where you are operating, but depending on average home prices, I think you'll be ok.For instance if we're talkin $500k homes, and if you will get a 2.5% commission, split that 50/50 with your Broker, you will end up with $6,250 per sale, right?

This was the assumption we operated under until December 2023.