Thankyou @Paul Azad, the relationship between Monday and RSN was described as a joint venture, meaning both groups would be responsible, and actively involved, in asset management and decision making.  

The portfolio is turnkey/ fully furnished and active.

Full disclosure - I'm a local resident currently actively looking to move away. 

Although I haven’t received an acceptance yet, I’ve been actively sending out LOIs to property owners.I’m aiming high with my first acquisition because I’ve heard many investors wish they had gone larger at the start.

So i am not currently actively seeking brrrr opportunities (but if one fell into my lap, i would no complain).Likely the most sure value add in So Cal at this point are lot splits.  

Unless you do that, I would not use the LLC for any activity on this property.

It is not a set it and forget it thing though, you'll still need to be active and review monthly statements and manage things to make sure everything is running smoothly. 

I just appreciate the responses so far and hopefully the back and forth replies may be able to clarify and help investors who want to be more passive than active find investing opportunities that fit their personalities and their goals.

When we sell timber rights, it's land we are not actively doing any form of any operation on. 

We learned a lot about project based Section8 buildings, but are now actively pursing more projects like this.