If someone injures themselves and sues, they will be suing the LLC and not you personally.

Personally, I would be hesitant to jump into a deal when the existing partners are cash-strapped.

Can a person own two homes with two VA loans and refinance one of the homes  into a conventional loan freeing up some of the entitlement which would enable you to buy a 3rd home under the VA loan?

I personally would reach out to your real estate attorney.

An outside treasurer can be hired to handle the finances.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

I have used this strategy personally more that 10 times and helped many clients doing it.

Regular reconciliation of accounts and maintaining a clear separation between personal and business finances is crucial.

Pushing your wears on an new person who just asked a question is pretty low ball.  

Lots of good insights into proper ways to handle the books for flipping.