I had a busted sewer pipe in there, which has been repaired and everything has dried up, and appears to be staying dry.

Some things I do to avoid bad situations: screen well, only have properties in good locations where people actually want to live (I find tenants behave better when they know they have a good thing going for them and that they are easily replaceable), set proper expectations, have a rock solid lease, go over it with new tenants to make sure everything is clear and agreed upon, and enforce the lease by issuing a formal notice to pay or quit every single time rent is late by even one day (and charge the late fee), or a formal notice to cure or quit every time there is a lease violation.

There has been a considerable amount of foundation work done (addition for piers, leveling, etc).

Additionally, if there are particular strategies or tips you've found useful in this process, I would greatly appreciate your insights.Looking forward to learning from your experiences!

I recommend you contact them immediately.It would be worth checking with your CPA if there are any tax-related issues or filing requirements you should know in advance.

There are other companies out there that are not syndications but REITS that can be an alternative as well.  

There are lots of flaws with the argument though:1.By nature STRs do not have long term contracts with their "tenants".2.  

But I'm wondering if there's a chance that someone on here has some more information and would be willing to share with me?

Please share tips on how to stand out for rentals there.

There is no rule about selling single-family rentals before getting into multifamily.