Need to get it it done quickly for a hard money loan. 

Essentially, people could donate money and get tax deductions and then that money could be pooled to buy property, fix it, rent it and pay a manager.I’m assuming it would be similar to a self invested Ira.

While CA is generally view as tenant friendly people are still investing there and making money. 

HARD MONEY QUESTION:I'm looking at purchasing a townhouse in Houston.

My plan is to continue to operate the LTR, get approvals for my already initiated project one way or another from the board/or not since I've already put in a fair amount of money for turf/installation, and respectfully decline this additional potential $6k charge. 

Not many private folks are going to lend that kind of money to stay in a 2nd position.  

When you are getting started you are throwing money away for a false sense of security. 

I'd keep your business in first priority, make sure to continue to scale as that's the money maker and use house hacking to get your feet under you

If the deals were so good then why would they need to sell why not raise money in a fund…

I'm sorry that it sounds like you're going to loose a significant amount of money but what were you expecting?