As to "taking control" you'll have to wait until there are board elections (typically annually although usually for part, not all of the board) and run yourself and people you control for the board seats.

Even if you buy a property that was built in 2024, that roof will need replaced, typically in 25 yrs if new.  

If you decide do sell to reinvest the money in something better, are you comfortable taking a loss given the amount of new construction condos selling at a discount you'll have to compete against (and buyers typically prefer a new property unless they urgently want to buy).4.

Shane -Typically, when you own rental properties through an LLC, the income and expenses associated with those properties flow through to your personal tax return.

Typical rates are 8-12% of income either monthly or yearly depending on manager.

I keep on hearing people say that you're typically going to want 20-25% down for an investment property but is it still possible to do 5%?

Typically we see the better rent:price ratios/cash flowing properties a bit outside of the city maybe within 45 minutes or so of downtown, or in the C class neighborhoods closer to the city that are a bit more management intensive.You might be able to get a close to turnkey duplex for ballpark 80-130k if looking in the area I mentioned above.

Typically the LLC owns the property and what you are calling the GP is the manager of the LLC.For Schedule of Real Estate Owned (SREO) wherever I'm the syndicator, guarantor or deals where I'm a passive investor are all on the list.

No reviews typically means a new listing, so that can be a risk for some vacationers, but for others an opportunity which you can market to.Good luck!

We typically buy off market, but I know the networking is one of the best ways to access off market deal flow through brokers.