Just seems like an odd business practice to shovel everything under the rug.

Hi BP Community,I’m looking into my first out-of-state multi-family partnership with someone that already has experience in the local market and connections to the operational teams required to make out of state inves...

At the very least you get practice running numbers and if you share your thoughts with the realtor they will have a better idea of what you are looking for in the future.

Next step will be to start analyzing deals for practice and asking others for feedback on my analysis.

Income, expenses, and distributions are automated and visible to all investors, minimizing the risk of manipulation.This model isn’t for everyone, but it’s a way to give people passive exposure to real estate without the complexity of ownership, while allowing property owners to raise funds without giving up control.Would you see this working in practice?

Not practicing law in your state though, so you need to consult a qualified lawyer in your jurisdiction to see what to do

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?

Unfortunately, renting in the far-left wing states allows tenants to be treated in a manner that far exceeds ethical rental practices. 

Besides the failure rate, wholesaling is legal when done right, but most programs teach you to practice real estate without a license which can get you in trouble. 

Quote from @Felicia Richardson: Quote from @Jonathan Greene: It's possible, but not always practical.