These initial funds are the "seed" money injected in a deal just to acquire and control the property while you prepare your exit strategy which is usually either sell or BRRR.  

But that is not something I can control.

I do not want to have anyone with more than 50% ownership and control of the entire property.

You are not in 100% control of the investment as you must deal with the association as well as other owners. 

Also, your loan servicing may switch institutions which brings upon uncertainties that are generally beyond your control with the new institution (anyone remember the wells fargo home loan fiasco?). 

I feel like real estate is more reliable and we have more control.

Don't try to time the market precisely, you will probably fail if you try to pinpoint a certain low or high.Simply be aware of the time frame in the cycle and start looking for the deals.

Issue is 2nd floor tenant can not control the heat considering thermostat is on first floor lol

Yes i saw quite a few MF in LA that already had renters occupying them at low rents and I was worried about how to handle that with all the rent control in the LA area so good point.

The rent is below market and we have rent control!