I'd also suggest looking at some broad metrics regarding profitability (cap rate and cash on cash return) which will help you compare individual properties relative to other options.  

Like what Nabil mentioned, you may not able to recoup your losses if he has no assets or trail of any assets.If you signed the contract as an individual, you can get help from the city attorney when you file a lawsuit and present the case without attorney representation.I hope that helps, good luck.

You should hire a third party person that is approved by the seller like your title company or an attorney or any individual you both can trust. 

If to an individual, check for any probate proceedings.

I spoke to him on an individual level after the meeting about a 1031 exchange that a family member is looking to move from one property to a like kind property.

I am hoping to connect with more like-minded individuals in LA and hopefully be on my way to acquiring my first rental investment property by the end of this year!

Individual spaces are also categorized.

In order for it to be an investment, a purchase would have to be completed by said individual, who would hold the property for a period of time for rental income, capital appreciation, or both.Even experienced real estate participants confuse the real estate business with real estate investing.

No one else here will be harmed by whatever you decide; good or bad.Don't take the decision lightly, but also don't just listen to the negative comments either.

Your LLC gives you a loan for the home : Is the LLC-A going to loan to me as an individual ?