If your opt-out percentage is too high then it may look suspicious to the carriers; ultimately, affecting your delivery rates.The goal is to keep you opt-out percentage low while maintaining compliance. 

Obviously very excited … But it looks suspicious to me - does this inquiry seem like some kind of scam or the beginning of a scam??

Here is NJ: https://www.njoag.gov/about/divisions-and-offices/office-of-...And then you could contact SEC Enforcement: https://www.sec.gov/submit-tip-or-complaintI have found that a carefully written letter to the Syndicator, alerting him that you are suspicious, will get you a quick refund . . . under certain conditions.

They are very persistent in raising money for their other funds once you’ve invested in one…which makes me further suspicious.   

When I got suspicious, I asked my realtor to send me a copy of the funding letter which was on letterhead & had the name & phone number of InsulaI do believe two of the partners went with them due to the low interest fees.

It sounds like you're dealing with a potentially suspicious situation. 

That way they keep their licenses and ratings.I don't see much of a difference really.Don't keep them out as they will get increasingly suspicious and they might pull your permit for non-compliance.

The new PM did initiate the transfer of service and reached out to the tenants, but since the existing PM hasn't confirmed the transfer to them, they're understandably suspicious. 

I have never heard of that and it seems suspicious to me.

Most guests are suspicious of these deposits and fear they won't get them back, so it can dampen your bookings.