On this topic, what are the pros and cons of a preferred shareholder vs common shareholders, I know if a real estate deal underperforms, preferred equity holders bear less risk than those who own common equity but would like to know more in depth details 

That is a common problem when you analyze properties, one at a time, instead of markets.

Giving up 30-50% is common, but if you can show you have successfully been able to do this type of deal (which you have), you may find people are ok taking some more risk on you.That is smart to take PM off your plate.

I have thought of offering cash for keys, but think they would accuse me of bribery or something to that effect, even though that is common and legal if it is agreed upon between parties to my knowledge. 

Hey team! I am doing LOI for 12-unit commercial property. They want escrow money at 2% of asking to submit a LOI. Is this normal? FYI. This is my first commercial property I am pursuing. We didn't do a LOI with my oth...

We are mid-stream through a value add process which will enhance the quality of life for our residents and increase the value of our asset through unit upgrades, common area and amenity enhancements, and ultimately rent increases.

Those "operating as" are pretty common here. 

One insurance policy per physical structure is common, yes.One institutional mortgage per individual property is also how that works.

Common HungerIf one person has the drive to work around the clock, burns the midnight oil etc, and the other partner turns their phone off at 5pm, takes weekends off and monthly vacations, the workload will quickly become imbalanced, resentment will build, and you will need to dissolve the business.Complementary Skill SetsDon’t partner with someone just like you.

Obviously having a professional can save you time and risk of making a errors, but you need to be on point with your bookkeeping either way you go....garbage in garbage out.