There is an opportunity for a complete remodel to a commercial property with store front first floor and residential remaining floors.

If your goal is to learn to underwrite projects, tie them up, negotiate, manage contractors, work with banks, etc. find a mentor and learn via the apprentice model.  

Upon sale the preferred return is paid first, initial capital from investors is returned second then remaining profits are split accordingly.

You are correct that holding the property in your name opens you up to liability which includes holding the property in an LLC that is not anonymous.What structure you want to hold this in which also affects your tax & protection benefits, will depend on your relationship to the other owners, how long you wish to hold the property, where you all live, where the property is located, among other situations (i.e. will this tie into anyone's estate, will the property be sold eventually or is a 1031 exchange the best option, etc.) * I am not an attorney and I'm not YOUR attorney.  

After financing 75% of the purchase price for a multifamily from a bank, many syndicators raise money from themselves and other investors to cover the remaining costs, in fact I've never heard of any strategy other than raising money.Why not get the additional capital from another bank, credit union, or other lender?

After 3:00PM tomorrow, anything remaining in the rental will be considered abandoned property and I'll take it to the landfill. 

I give the option of paying an early termination fee a d walking away clean, or she remains responsible for rent and utilities until a qualified replacement tenant takes over.100 years ago, people would lose multiple children, spouses, parents, it other relatives, yet they still lived in the same home for decades.

I may be purchasing a new primary residence with my remaining VA loan entitlement.

I'm looking for something in the 50-120k range so I don't have to put to much down and tie all my money up in one property. 

Leverage these asset to optimize the return2) OPM may be a good idea as long as you don't tie yourself down and you can buy them out whenever you want.