Then, when money is paid out to investors, should I ensure this happens equally by % to keep people's ownership % constant?

Now you just avoided buying a property where you would have lost ~200k out of the gate or you have a way to go back to the owner and attempt to purchase the property at a fair price (~1.14M). 

Hello,  I'm fairly new to the real estate investing world.

I don't know about any of you , but I'd like to honestly get the deductions I am entitled to, pay my fair tax, and avoid any issues with the IRS, but not aggressively seek their scrutiny or wrath.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

Hey BP folks!Although I joined BP last year, I'd still say I'm a new member as I haven't really dove in...until today! :-) What a wealth of info and the ability to network is priceless.Me: 56, California SF Bay Area (...

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

The seller is also under the assumption that Opendoor represents them and is treating them fairly which I also don't believe is the case.

I am fairly new to multifamily investing, and am looking to build a base of diversified syndicated multifamily investments. 

Fair observation...he wants to recycle the capital sooner...unit by unit...maximum IRR.