No choice.Can anyone else confirm this or give feedback on best practices?

Although it is good business practice to keep your personal funds separate from your LLC funds, IMHO there is no comingling issue with a SMLLC treated as a disregarded entity if you do not segregate your bank accounts..

It sounds good, but in practice all-performance fees encourage excessive risk-taking because the promote structure disproportionately rewards the manager for each extra bit of return versus the investor.

Forming an LLC in California with a great Operating Agreement & business practices that protect you from liability isn't cheap.

Real Estate is practiced slightly differently in each state from my experience so have a local agent that works with out of state investors and understands the challenges associated with investing from out of state.  

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

Unfortunately, that is normal practice for commercial leases.

watch tons of youtube videos for how to change portion of the roof, the rotted portion... and not the entire roof....There is entire art behind repairing the roof... literally... in all practical sense.... 

The owner actively practices and implements sound and knowledgeable asset protection strategies.

Owner capital transfers are common business practice.