So this has nothing to do with being a real estate professional, but instead, the operating agreement would indicate who's eligible for what...?

I spoke with the plaintiff’s attorney, who indicated they are “waiting for documentation,” but it is unclear what specific documentation is being awaited, as no bankruptcy case number has been provided. 

All investing plans have an indicator to know when it's time to walk away.

@Mamesho Macaulay Depending on the market and number of units, that price point may indicate more of a Section 8 property.

@Kitty Walker- As an investor, I've refinanced multiple Padsplits and co-living properties (where we go direct to tenant without Padsplit), and I generally agree with your last statement, with some caveats:- if the renovation is done well, the appraiser may not even say anything that would indicate it is an "abnormal" SFR (has happened multiple times with me)-the investor may be wise not to make the house crazy- just leave a nice open living room, put double doors on the dining room so it can function as a bedroom now but be easy to convert later, etc.  

What do the K1's indicate? 

I believe you have indicated before about RE being local/market specific.I agree with you nationally “large corporate ownership is a small percentage.  

I recommend avoiding properties with extensive plaster walls, as this is often a strong indicator that the building has been patched rather than properly renovated.Feel free to reach out anytime—I'm licensed in both Pennsylvania and New Jersey.

A quick google search indicates that for security and last months rent TOTAL you can collect no more than 1.5x rent.

Past numbers are not always indicative of how your property will operate.