There are a few units available and some have been sitting out there for a while.

Obviously the GP make more money but they are doing all the hard work and the passive investors sit back and receive checks in the bank account or mail.

Can I sit on the property and take my time fixing it up?

I have not pointed out the missing info from the lease to the tenants yet; I want to know where I sit from a legal perspective first. 

I'm sitting here at a coffee shop about 1.5 hours away from my fix and flip where a new lead came in for me to check out.

I have about 50k sitting in the bank now and i have decided i want to make the money work and grow for me to reach my goal to move. my brother in law and i have decided we would like do a couple of home flips in the Tampa area were he lives so i a can reach my goal of savings faster. 

It reminds me of when you're selling a house, and for whatever reason, it sits.

They foreclose on properties and sit on them (shadow inventory) until they have to move them.  

@Kevan Davidson I would suggest you ALL sit down with a RE lawyer and talk about the corp structure.

Personally I quit having reserves once I got to 5 properties and at 12 it would be too much money sitting around.