If done properly you should never have to worry about them again. 

If a deal is set up properly you do not need to have money to buy it.

The products will always speak for themselves and I aim to never stray from delivering such a high level of quality rehab. 

The person I hired to do the work said everything was working properly and there were no leaks for a few days.

The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.I hope this basic guide helps.

If you go with fannie or freddie multi family product, a lot of the time the lender deposits can run you $10k or more.You can negotiate a lot lower than 10% management on a deal that size. 

What is the proper way if any to safeguard yourself from such lawsuits?

CEO/President does not really matter, but you should get legal advice to properly draft an operating agreement that you anticipate will sell securities to raise capital.

I don't see much downside to it other than the fact that the property tends to be noisier and you will have to deal with problems at random hours of the day which might affect your normal living situation.This can of course be minimalized by screening your tenants properly and choosing who will share a property with you.The upside is that you will live for much cheaper than paying rent or paying a mortgage by yourself.

I've never once seen Jay, along with others try to sell you on their strategy or their products(if folks have them) when offering advice.