- conclusion (my opinion only), a pretty generic deal with a young sponsor and middling to less than average financials (fees and waterfall)I think you could find better deals on Crowdstreet or Realcrowd.   

I have contacted my financial advisor and am attempting a withdrawal from an IRA I have but it is going to take a few days.

Given that it's been a 10 years, and the person in question bought the properties when big capital projects were beginning in their neighborhoods, knowing where this place is would go a long way in helping us evaluate it. 

If the contractor is in such dire financial straights to be playing Ponzi games, no matter how 'great' they were in the past, you don't want to be the guy holding the bag.

My main goal is to learn as much as possible about this fascinating world of real estate investment and realize financial and personal freedom.

We are working on our business plan to show to banks and/or potential financial partners.

I still find it pretty easy to track income & expenses by unit in my personal financial software (Quicken). 

I am a newly commissioned 2d Lt and my goal is to grow enough financial freedom, for myself and my partner, after my military career, or as a financial backup for my family in the case something were to happen while serving.

Sure you want the property to perform but I also filled out a PFS (personal financial statement) and had to supply all of the supporting documentation. 

I'd say an estimate of at least 10% Capex/Maint is more common in evaluations.