One is a big player in our local market so if we find a property and need someone to fight for us to win the bid, they are our go-to person.

If it were to go below that, we could have some big issues on our hands with some of the major players in OKC.

You currently have good title, so pass good title via a warrentee (or as the attorney may correct via a limited warrantee) deed.Please research how you must work within, treat your LLC in order to protect your corporate veil. 

We are nor panicking instead trying to think though some scenarios and communicate/plan on paper . 1.Ownership:1.Create a “Medial Power of Attorney” to take over decision control if any/all owners get sick 2.Communicate ownership delegation with property manager2.Property Manager/Other Employees:1.Communicate CDC requirements 2.Outline and agree upon rent collection work process if city were to shut down 3.Outline and communicate a call tree identifying repair personnel 3.Safety:1.For employees: Release funds to buy protective gear while working within premise 2.For tenants: Communicate 2 times a week with CDC requirement as COVID19 is a REPDI development 3.For Owner: Identify all elderly tenants and communicate with them to call CDC if they would show any sign4.For Owner: Identify companies who does preventive medical grade clearing if any cases to be identified within premise. 4.Insurance :1.Confirm with current insurance to avoid and potential liability from owner to tenant negligence perspective 5.Operations:1.Review plan for marketing to get tenants if people were to leave during outbreak 2.Review plan for eviction during shutdown (if any) 3.Review cash position: 10 months cash supply covering 10 month of debt payment .

I guess that would be the main con, that and the lack of liability protection you get from owning it in an LLC. 

You should look into your consumer protection laws, specifically related to contractors, in your state.

Yes, giving your word is important, but just as much as contracts ensure that the people involved follow through on their word, they're also meant to protect the parties involved.

In short, yes, and also probably.Whether or not you get your earnest money back depends on if you breached contract or not - that's what the earnest money is there to protect the seller from.

Hi Doug, I’m a newbie investor and I listen to Robin Thompson’s teaching CD’s, she is a rehab queen out of Ocala, FL she recommends independent contractors, electrical, plumbing, painter, roofing etc,  the GC can be contracted for Sheet rock, flooring , dry wall etc, better protection for the investor to ensure timely completion of work with cost over runs

There is no protections or remedies for landlords in Balt City.