Not looking for a direct referral or recommendation but open a line of communication so I can express my interest and how I could contribute to their company. 

Well screened tenants in B class properties will never be an issue no matter what pay method. 

Even when I hear stories about investors that scale quickly, take on max leverage, partner up, etc. and get 28 doors in 2 years, it's either a situation where all details and context are not communicated (rich parents - for example) or it was a "just because something worked does not mean that it was a good idea" situation.You win the investing and real estate game by never being a forced buyer or forced seller and letting the compounding effect of time take over.

A lot of people prefer "simple" agreements, but truth is, there is a lot of moving parts in the property management business, and the PMA should take this into account. 9) Access for communication.

To begin, I suggest deciding on the method you wish to pursue.

What was the exit strategy offered or communicated by the GP?

If they do not sign a new lease immediately, It would be a great idea to communicate with the tenants 30-60 days before the current lease expires and have them sign a new lease with the new terms. 

This can sometimes expedite the process and save you the hassle of legal proceedings.Lastly, remember that tenant situations like these can be delicate, so handle communications professionally and document all interactions with both parties.

I am interested to hear what others think, their methods to finance, tools they use and if they would go for it.I might be able to bring some other financing from family but we currently have about 140k to put down (yes I know that's low). 

What methods did you use to acquire them?