I am reviewing a property management agreement and came across this clause RE: Indemnification that seems too broad:INDEMNIFICATION:(a) The Owner shall indemnify, defend and save Agent harmless from all suits and/or other legal proceedings whatsoever and cost incurred therefrom in connection with the management of the Property and from liability for injuries suffered by any employee or other person whomsoever, except in cases of willful misconduct or gross negligence on the part of Agent or its employees, (b) The Owner shall indemnify and hold harmless the Agent from and against any costs, loss, expense or damage (including attorney's fees) suffered or incurred by the Agent arising out of or related to the enforcement of this Agreement arising out of a default or other breach by the Owner, the management, operation, improvement, alteration and leasing of the Property, including all other activities arising out of or related to Agent's duties under this Agreement or as a result of any act or thing done or permitted by the Agent or its agents or employees; provided, however, that such indemnification shall not apply to any such cost, loss, expense or damage to the extent that the same relates to or as a result of conduct by Agent which constitutes willful and wanton misconduct.It seems like if one of the Property Manager workers (aka Agent) slips and hurts himself while cleaning the floor the "Owner" is then responsible. 

Raising capital has important legal considerations so seek out a competent attorney w/SEC experience in doing syndications. 

Do I have any legal recourse here?

On the surface, I feel like this is dodgy, but I cannot find any legal reason not to do this. 

We went to a lawyer’s office whom completed the legal paperwork for me to be added to the deed.

Since I was legally required to wait until the 15th of the month to give the 3-day pay or quit notice- and couldn't enforce my late fee or indemnification clause - I decided to pay cash for keys and get the unit back Nov. 8.

Be careful what you put in writing,a lawyer can use it against you in a court of law.The tenant is within his legal rights to demand a receipt for rent paid and the reason is not up for debate by anyone.You must furnish a receipt within a certain time period established by your local state law.You can furnish it electronically,US Post Office mail,or in person.Also,that statement regarding possibly moving into the apartment might been seen by a judge as illegal harassment of a paying tenant.You seriously should seek legal advice from a competent attorney and let them write responses to your tenants with the correct legal language.

Have you talked to the state to make sure this is legal? 

http://www.builderonline.com/design/home-is-where-...

I suggest your respective LLCs be the members of the JV LLC, but check with a lawyer - maybe there're legal reasons to own the new LLC under your personal names rather than under your LLCs.Transparency is easy with a joint bank account.