Board collected those funds and put them in Operating instead of Reserves.

Get sued on one get sued on all.Recently the Illinois legislature gutted most of the protections that made an LLC a desirable entity choice in Illinois.As of January 1, 2025, several new Illinois laws have come into effect, impacting Limited Liability Companies (LLCs) in various ways.

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I was new to the SFR investment world, and it was important to me to work with company with good reputation that can act quickly.

And your S-corp must have funds to make monthly payments to you.

If buyer and seller cannot come to terms the buyer will receive 100% of their funds back (as long as it’s done within the timeline in the contract). 4) Financed properties come with an appraisal contingency.

We are a relationship company. 

There are good relations with the neighbor so this likely wouldn't be terribly difficult to pull off, but I haven't ever developed a property from scratch so I would definitely like the opportunity to partner with someone on this to help ensure the success but first I want to finish the smaller property to have sufficient funding available if it is needed.

Your buyer had a 1031 exchange funds and paid the entirety of the 8 plex purchase in cash?

Then use those funds for the rehab of the other property.