I can only recall 1 who, well I guess see is technically still retained because has not left market per say but is now looking to operate in other market, that's the only one I can recall.

In addition, housing will always retain some sort of positive value regardless of the market, and I'm looking to invest early and young (what was that story about investing 5k at 25?)

The key to staying in the game, is to "know when to fold them", and to recognize that time ASAP.For this discussion, if it was me, I would sell immediately if not sooner, take the very limited loss, retain the money available for rehab, and use it on the next property. 

You don’t retain it.

I retain control of the cash while I get a baseline for how the property will perform. 

An attorney will charge a large retainer fee to an out-of-state owner, so it probably isn't worth it.You should terminate this PMC though.

I have retained long term tenants (young professionals) and generate ~$600/month cash flow.

Or retain Portfolio Services with Portfolio Manager effecting the same.

Goals: Retain ownership of property as primary SFRPulling cash out/recouping cash as quickly as possibleMaximizing cash out/recouped cash amountSecuring the lowest interest rate and fees for a 30-year fixed rate (SFR, primary residence)Eliminating/limiting the amount of taxes (if any) from transfer of the propertyContemplated Scenarios:Purchase SFR from LLC at auction purchase price with a first mortgage (can this be done as a “purchase” or will this be considered a refinancing with LLC as single member?)

The sponsor could also elect to retain additional cash for added reserves.3.