So the real answer is do what's comfortable for you and what makes sense based on your own financial position, your age, your desired outcome, and your local market.

Does anyone have any practical experience with similar situations and if so what was the outcome and how long did it take to resolve everything?

I was honestly shocked and horrified when you didn't just say something like "Yeah, Scott, I own the frigging building - I raised the capital, formed the entity, am responsible for operations, and plan to deliver the best investor experience (and great returns) that I am capable of for the investors who I've partnered with."

In fact, lunch is delivered to them."

if i buy a rent ready house off the MLS, and put it under management with a good PM... that's basically turnkey too just without the label and the provider.one thing i notice on BP is how many new investors think they're being guaranteed outcomes rather than processes. 

Setting a goal doesn’t merely guarantee the outcome by course.

If you’d been holding around $620K from a 2019 sale and directed it toward a few properties like that.. especially if you leveraged financing.. you might’ve grown your portfolio’s total value well beyond what many Los Angeles holdings would have delivered over the same period.Then again, L.A. still has that unique mix of robust demand and limited supply.. from what I’ve heard, you can see impressive long-term gains there if you’re comfortble navigating tenant protections.

A phase 2 may be required depending on the outcome of the phase 1.  

If their process is just, ‘here’s the house, now it’s your problem,’ then they’re clearly not delivering what they advertise.

What was the outcome?