This is/was a great opportunity with solid business history, stable staff, and administration in place then Covid 19 hit.

They are the names of groups that include many strategies that can be used to execute the buying and selling/holding of RE. 

For example, does it make sense to create a partnership or LLC, or is it sufficient to own the property as tenants-in-common and execute a joint venture agreement that governs our operations?

There is an area in MN famously known as the worst neighborhood anywhere bar none, the local gas station is known as "The Murder Station" because of the countless shootings at it, and the KFC is shrouded in bulletproof glass, the whole staff, counters, even the drive through is like a bank vault, for fried chicken.

The best REI never stop learning.As far as your questions (at least the vague ones you state here) are concerned, the only way to get answers from the people you asked is with a specific property...with complete numbers (with dollar signs in front...NOT percentage signs behind).There are way too many specific strategies that I have been associated with through action and teaching to mention here, but you're not ready yet to execute any of them yet...so it really doesn't matter. 

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

In order to run a property management company and hire the staff to handle the many day to day activities needed, adding ancillary fees such as this one, is a necessity to stay in business.

Execution was poor and timing was unfortunate. 

Plan just enough until everybody is comfortable and on the same page then execute.

As an LLC, we intend to have this entity execute our leases.