Ultimately it was sorted because I clarified they legally had a joint responsibility to pay the total rent and there wasn't even an option for "half" the renters to pay late.

I used to cold call, skip trace, send mailers, and don't get me wrong you will get success from it like James above, however as you gain experience you will realize you need deals faster, easier, cheaper, and with more "meat on the bones" and in order to have that you need constant deals flowing through your eco system and that's hard to do with mailers, cold calls, VA's and skip tracing etc.

Quote from @Cheryl Abram: What legal filed docs are LPs entitled to see to help validate a deal's failure?

I don’t have any legal advice, but maybe some helpful perspective.When we return security deposits, we write the check to all tenants on the lease, such as “Tenant A or Tenant B”.

An LLC is useful for two things: anonymity and legal protection.

IF my numbers are truely "too low" I just looking gain confidence in how I am analyzing properties and estimating repairs.  1710 10TH AVE N, 37208: https://docs.google.com/spreadsheets/d/1B0CoSbGxQFbRBVzXBERw...6121 Southampton Dr 38119: https://docs.google.com/spreadsheets/d/1a3WBEcgv2SMggu5P2HrK...2014 Salem Mason Dr, 27208: https://docs.google.com/spreadsheets/d/1Jzr5TN9PYhuiFuD2THLb...Spoke with a seller yesterday, before I go with these numbers I thought it best to ask for some guidance. 

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

It seemed like most the folks you have on staff are CPA or other, but no specific legal experts.

I would NEVER Ever use OBIE INSURANCE  --Not honest in their dealings and do not expect refunds on cancellations  I am of the opinion that they are legal scammers Just be careful

The seller's LLC pays capital gains tax and depreciation recapture, while the buyer's LLC uses the purchase price as the new cost basis.