Appreciation investing is dangerous and speculative, sort of like betting on sporting events. 

Most people don't make enough active income to ever make significant investments.

@Joshua GostonAs mentioned by others, speaking with an experienced syndication attorney is your best bet.

The 2nd , 3rd, etc. tenant placement fee should not be paid, or a refund of the original amount should be due.One way you can hedge your bets on getting a good tenant is that FINAL APPROVAL of a prospective tenant must go through you, the owner. 

We are both at a point that we would like to start actively doing real estate investing. 

They are easy to replace, the challange is finding an exact match.I would google Armstrong ceiling systems or USG ceiling systems that would probably be your best bet.

I bet dollars to donuts she'll take care of it.

I am going to ask to see one but I am willing bet there isn't one.

I'm willing to bet they left stuff they don't want.If you are unable to contact the tenant, then you have either a "holdover" or an "abandonment" which have different processes to follow.

Like our state of Oregon they will only move on unlicensed activity when a complaint comes in.. but once one does come in its katy bar the door your in major trouble.