I was communicating with investors and sellers in every state imaginable.

We use Zillow to avertise, MySmartMove (Transunion) for background checks, Google sheets of course, bookkeeping  is completely outsourced and they use Quickbooks (I died on that hill more than once, best decision ever to outsource), for communication a seperate cell phone and it's mostly text messages, rent collection via my bank (ACH), and maintennace in a spreadsheet (how much maintenance are you planning on doing??)

., 1–2 months).During this period, observe and learn their processes, and start gradually taking over responsibilities like guest communication, cleaning coordination, and listing updates.

Quote from @Basit Siddiqi: Your best bet if you have a non-communicative Sponsor / CPA and you can't get past K-1's is to document your conversations where you tried your best to obtain the documents / K-1's.You should then recreate your basis by your contributions / distributions / amounts reported on past tax returns.If you want to completely write off the investment, you likely need some sort of support / evidence that you will not get any more money from the sponsor.

One approach is to structure a contingent offer on the new primary based on your DSCR closing — some sellers accept that if you provide a clear timeline and communication.

In today’s environment, I’m seeing LPs care less about glossy returns on paper and more about alignment, transparency, and downside protection.Some models that seem to resonate:1.Tiered preferred returns (higher commitments = better splits)2.Clear refinance milestones (not just ‘someday down the line’)3.Communication cadence - monthly vs. quarterly updatesFor those of you raising capital or investing passively:1.What do you find most compelling in a structure?

The utility company missed an appointment and no communication from them or action to even reschedule.

I know MO side has more favorable tenant laws and may be different.Have you communicated with the tenants yet to inquire about it?

A solid CRM (I use Follow Up Boss) is huge for tracking communications and follow-ups. 

Streamlined CommunicationThe messaging feature allows you to communicate with applicants easily and keep all conversations organized in one place.