You can describe a deal in 2-3 pages, but a PPM is designed to communicate all the risks of investing in real estate and with you in order to avoid running afoul of the Securities and Exchange Commission.  

Some of these issues are rather straightforward, but depending on your tax situation there may be entity structures that you can implement that will make the investments more effective and tax efficient.

All properties will be built of the highest standard of energy efficiency and green products wherever possible.Supportive Housing- We will work to proliferate the company as a leader in affordable housing for individuals with disabilities through our Supportive Housing programs.

Both good options for basic project management and communication. 

Communicate clearly and don't waste their time. 

You are reducing your diversification, but ideally gaining efficiently and scale.  

My out of state property was not intended to be an investment, its just a hold over from the housing bubble.I use a property manager with all my properties, and yes, I could potentially make more with out using them, but I have to weight what I pay them vs could I do what they do as efficiently?  

As to structuring the deal, begin with settlements required and work backwards for the most efficient method. :)

One of the recent potential victims sent me the email communication she was having with the "owner" of the property.  

Market Rents: $1750, $1600 = $3350NOI: $3350 - $1379.15 = $1970.85 -> $24,250 per yearExpense:Income -> 41.2% Cashflow: 3350 – (1379.15+1778.47) = 192.38 -> 96.19 per door.There are two projects I have planned for the property in the near future: replacing the 30 year old boiler with a high efficiency one (should knock $100 off heating) and converting the 2bed/3bed configuration to a 3bed/3bed by adding 1 wall, 1 window, and 1 door by splitting the extra large bedroom above the garage.