The notion of pulling out some money while still retaining the property seemed like a good idea.

Thanks in advance for your support and contributions! 

I hope to become more familiar with comps in the area and am interested in learning more about which areas work well for rental properties.I look forward to working together and contributing to the NoVa/DC community.

Hello BP,Newbie from Stamford, CT looking to increase my knowledge and contribute anyway I can.

My current employer does not match contributions to our 401K.

Raj - humans are not perfect - not here and not in any other country - laws are not always enforced and they may cost more to enforce or not - also every one has a different take on what ethics are - just read Aristotle written more than a thousand years ago.... please step back - is your concern about money then follow that issue - if you feel it was not fair - ask what you may have contributed, ask if you want the personal and financial expense of taking it to court, and do not expect the board of realtors to protect YOU- if you can afford the house and like it and want to live there for some years - then go for it.

As time goes by, I hope I can contribute to BP to help the community as I am sure the community will help me.

@Bin Chen, If handled correctly the property  was contributed  to the LLC at basis so the 400K gain will be recognized by the LLC and then passed to the two of you as members through the partnership return.Your opportunity is that any tax filing entity can complete a 1031 exchange.  

My wife tells me I never saw you work so hard and I told her, you know, that's the difference....I don't feel I'm working when I'm on BP contributing to others and learning from others.  

If you need to add money to the account you just pay into their system, via an owner contribution to cover the cost of the bills.