(This seller doesn't sound like the most reliable record keeper.)

Do I set up Blue Estate LLC then start first syndication single apartment building such as 10 units in property LLC which i sell interests of to investors and pay management fees to Blue Estate LLC and pay profit splits such as 80/20 to myself and investors. 6% preferred return.If you’ve syndicated deals can you please tell me exactly how you started, entity formation, first deals and details such as financing, income, expenses and investors, finding investors, finding deals, building a track record e.t.c. 

Do I set up Blue Estate LLC then start first syndication single apartment building such as 10 units in property LLC which i sell interests of to investors and pay management fees to Blue Estate LLC and pay profit splits such as 80/20 to myself and investors. 6% preferred return.If you’ve syndicated deals can you please tell me exactly how you started, entity formation, first deals and details such as financing, income, expenses and investors, finding investors, finding deals, building a track record e.t.c.

@Joseph BackFirst consideration is if the land contract has been recorded.

He inherited the properties from his father who unfortunately, did not keep good records and his accountant (in my opinion) is not good at all (he puts in expenses as part of P&L that are not considered operating expenses like depreciation and capex).

Credibility and a proven track record of closing deals goes a long way. 

I wanted to go on record as saying I just had my first networking coffee meeting with someone I connected with on BP: @Kyle PotswaldKyle was kind enough to sit with me, give his insights into lending (his business) and other aspects of RE investing.

Also Commercial Lenders where they don't care about you (other than maybe your overall track record and general credit score) and if the property generates enough income on its own to cover the mortgage + reserves.

Everything should be in writing (signed and notarized) - and it would even be helpful to do an open recording of each member speaking about their understanding of the group purpose, dynamic, rolls and responsibilities.

A BUNCH OF DRAMA ensued and after that I declared I would never rent to a tenant with a criminal record again.