There are banks out there that offer lines of credit for GP stakes, which many established syndicators utilize and draw on to potentially fund their follow-on offerings.  

@Cory Gamble do you have their contact number

Thats not a wise gamble in most cases if there is a market change for any unknown range of factors.

The trick is getting in front of the administrator, establishing rapport and getting them to a price that makes sense for everybody.

Being new to the LA market, I'm looking to partner with someone who has established relationships with local contractors and/or experience with creative financing.

Being consistent is essential for establishing a successful thought leadership empire.

I would wait a while to get them at a discount but with condos, it always feels like a gamble because of future assessments, fee increases and difficulty getting a tenant approved in a timely manner.

An LLC can help protect your personal assets by limiting liability, and it also allows you to establish business credit early, which can be useful as you scale your portfolio.

Establish a solid reserve fund (3-6 months of rent) to cover unexpected expenses or vacancies, which are inevitable over time.Make sure you're well-versed in local landlord-tenant laws to avoid legal complications.

Eliminate debt, establish a budget, and save.