Some have the power of sale, some need court authority (dependent).

Is it possible to get a good occupancy rate (of course it depends of the house and location) if the place is attractive enough ?  

If it wasn't fraud but simple incompetence (and he lost the money), then that isn't a crime and your options are more limited.Your legal contract (and/or the state laws the entity was incorporated in...depending on where) most likely requires the sponsor to share books and records with you (so you can at least know what happened).

Any guidance or insights you can provide would be greatly appreciated.Thank you for your time and consideration.

Buildium our property management software does not provide credit bureau reporting as service, despite request over many month from many of it's users. 

The answer is "It Depends".

I got the vibes that I was wasting their time or that I would not have the money to provide their commission. 

They may only charge a few hundred or few thousand depending on how involved it is whereas you could save multiple orders of magnitude of what they charge in savings/deferrals.

Hi Natali,I am not an attorney so I would suggest contacting a local real estate attorney but having an LLC should provide personal liability protection. 

It depends on what ind of rehabs you're looking at.