Point is the above comments there are many other more effective ways to meet the FINCEN stated objectives for tax evasion, money laundering and terrorism.   

Follow the lease and the laws in your state and start the eviction process.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

I left them recently like many others have in the last 5 months and even though our money was technically an investment and a limited partner contribution, they refused to give anyone their money back even after stating numerous times they would give people their money back if they choose to leave. 

I hope one or more can get the attention of their state attorney general and the SEC.

I realize I don't have the actual NOI, but that price sounds super high for the gross income you're stating in your narrative.

I was fortunate enough to find a lender with 15% down for my previous properties  For sure, man, I’m sure it varies by state with Lending  but in Texas 20% down is  pretty standard on investment properties.

Sometimes it can be difficult to collect and some landlords will keep any unpaid utilities out of the security deposit, though CA is one of the trickier states to do this in.

Preferably out of state near Charlotte NC where our daughter lives.  

What makes you state this?