The home needed a lot of work including roofing, windows, siding , kitchen, baths, and mechanicals.

I go to a shop and pay them, because I don't trust my mechanical skills, even with something as basic as an oil change.Any tax preparer anywhere, including franchises like H&R Block, should be able to prepare your taxes correctly.

How old is roof, mechanicals, FFE? 

If companies require you in office, and the companies are based in cities where housing is becoming unaffordable then inherently from a supply-demand mechanism-- there's a short. 

The mechanism would allow the property to be re-deeded to all of the LPs as tenants in common. 

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

My perspective was from a small business private lender rather than RE lending, but the mechanics were largely the same. 

And in underground parking is mechanical's.

What is the legal mechanism?

Oregon saw it that way as well.. many folks got cease and desist using guru on line training techniques this just formalizes the activity and levels the playing field and gives both buyers and sellers a mechanism to get out of deals and or have a regulator step in..