And since o brady is confused, I wanted to clarify this, we own one single unit in this almost billion dollar resort.

I am confused on what you are asking, I assume he is 20% owner of the LLC in which owns property #1.If you want to buy a 2nd property without him, simply buy it under a different LLC.

I am just very confused making my final decision of which option would be better.

But yes, if you only have 1-5 properties and wnat to do your own books, you will be fine (I would still have a Book-keeper come by 1x month and get everything squared away)Of course when you have a lot of properties, this will just be a confusing nightmare.

Having a Western NY forum could help seperate the confusion of the term "Upstate NY". 

I'm confused whether or not you own this condo.

I am confused on the post.

The power of leverage is one reason people turn here.I can only imagine how confused OP must be reading all this.

thank you all for your insight. preferred returns and distributions are super confusing to me. anyone know of a youtube video, book or podcast that explains the capital stack a little more in depth?

Hey sorry for the confusion - in my first reply to you I said it was for PA only but then I also sent the link just in case you were curious