This is why RE agents often have sellers remove the JADU when selling.  

I am an Investor and RE Agent in Sacramento.

But we have never felt more strongly that this is the path for us to "reduce the noise" and be in better control of our collective futures.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

  :)  I am NOT a lawyer, and past performance does not indicate future returns.Most mortgages have a due-on-sell clause that says they get paid off if you sell (or transfer) the property. 

I thought a Warranty Deed would be better so nobody in the future has any questions about chain of ownership.

Are you having your GC or RE Agent represent you at an inspection? 

We could maximize our capital (~$150,000), but lose any future cash flow with the property.3- look into a 1031 exchange for a multifamily or small apartment complex.

No one likes a shoebox of receipts, not even your future bookkeeper.

If you tell me the majority of the partners are merely writing checks and are passive LP's that's different but that's not what this sounds like.