My recommendation is to attend some networking events and get personal recommendations from people you meet there.Go to NETWORK at the top of your screen and you can search for other investors and investment groups in your area.

For other first timers - especially if you're more introverted, I recommend making "The Golden Phone Call" - a call to a close family member or friend to chat with in order to get you in a talkative mood just before going into your event.

BP Team,I am packaging a deal to propose private investor and am unsure on event sequencing.

In the event the deal goes bad you would only be liable for your portion of it.  

Depending on HUD rents compared to market rents the bank may require some special reserves in the event that the HUD contract isn't renewed. 

His Annual Roundtable is coming up early next month in Indianapolis which is a terrific event for both newbies and experienced community owners alike.

But yes you end up being tenants in common and then the property is sold from the two of you to the new buyer.In general contributions into an LLC and distributions from an LLC are not taxable events. 

Also what @Kevin Siedlecki suggested would make you have to have a real estate license (and possibly a mortgage brokers license and possibly a financial planners license) in every state that I know about. 

Failure is not an event.

I would suggest as others have that next time you are contacted by either one of them reiterate that they should review the lease and follow the terms there in the event they need/want to leave.