You could just think of the parent Series LLC as the ASSET HOLDING COMPANY and the traditional LLC as the OPERATING COMPANY.It would require extra costs, since you are involving the formation and operation of an additional entity.

If the property can be sold, pursue a short sale for its current value whatever that may be after considering the cost to remedy these issues. 

LMHA is relocating residents from Dosker Manor due to mold, rodents, and crime.Dosker Manor will be torn down, and residents will be moved to other accommodations.LMHA surveyed residents; they need help with medical care, groceries, and financial management.Relocations will start in August, with around 600 residents moving over 18 months.The first 100 residents will move to LMHA-owned properties; the rest will go to low-income housing.LMHA is covering moving costs and offering reimbursements up to $1,300 for self-movers.

What's great about using your 401k is that the payment wont count against your monthly liabilities so it wont affect your borrowing power for a larger mortgage.

I am not keen on returning any of this money back to the main tenant as it is very evident that the damage he has caused on the property with a rotating cast of characters and a pet is likely significantly higher than $2000.5) Legal fees and other costs: Can we include a demand for unpaid rent, legal fees, and other costs in the eviction process for our tenant or does this have to be a different suit?

Adding  about 2.5% closing cost of 17.5k will bring you to about 50.5k (rough estimate) out of pocket. 

Honestly, I've been getting screwed with some big ticket issues (related to HOAs, selling different properties, continual unforeseen maintenance and costs) and this one really crushed me once I realized it was an actual issue.

All told, the GP is making $337,500 just to arrange the deal (not including their reimbursement of any out of pocket costs they have already covered: due diligence costs, broker costs if they are paying anyone to bring them deals, legal setup costs, etc).  

Consider renovation costs and potential for adding value through improvements.Resources and Tools:Local Real Estate Networks: Connect with local real estate agents, property managers, and investors for insights into specific neighborhoods and market conditions.Online Tools: Use real estate websites and platforms to analyze property prices, rental yields, and neighborhood demographics.Tips for Canadian Investors:Tax Implications: Understand tax implications for Canadian investors owning U.S. property, including withholding taxes on rental income and capital gains.Legal and Financial Advice: Consult with a cross-border tax specialist and real estate attorney to navigate legal and financial aspects of investing in the U.S.If you would like to discuss further/need financing please feel free to reach out.

I mean a deal will cost you 150k in capital, maybe more.