I left them recently like many others have in the last 5 months and even though our money was technically an investment and a limited partner contribution, they refused to give anyone their money back even after stating numerous times they would give people their money back if they choose to leave. 

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.  

Having the tenant be responsible for something like the first $1000 of each maintenance issue, or $500 can be a big help.

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.

Hi Chris, if I understand the transaction it sounds like you will receive a 1099-S for the full amount.

I have several really good lawyers we use, you can PM me if you want info on them ... and if you'd like to talk property management reach out.

You are taking over for someone who didn't care at all about the rules and you want the city to just be like, "yeah, this is fine"?

The first one is likely to be rigorous.

All of these are posted on our local real estate facebook groups.In any of these events, you will meet like minded entrepreneurs who are also looking to grow. 

Love what @Kevin Sobilo replied - sounds like some good wisdom.