My feeling is that the market will continue to stay this way for maybe another couple years and if we wait that long, we won't qualify for the $500k exemption since we will have passed the 2 yrs out of 5 timeline.

Either way, don't stay with a company if you don't fell it's working out. 

Would anyone have any recommendations on a SEC attorney in South Dakota or one that is familiar with SD that can help us form our organization and get it set up right for raising capital to build and purchase multi family property thru syndications.

I am pretty sure they will need a better margin down the line if they wanted to stay in this game. 

Problem was the sales price and my dad wants to stay in the apartment he lived in and wanted to stay, but can't make an agreement with the doctor where he can stay somehow.

Jim Cummings if you get a warranty deed, your title insurance stays intact.

However, I am a member of several different companies organized as Limited Liability Companies (LLCs) where members invest in a project (Single Purpose Entity) or projects (like a real estate LTH company) jointly, similar to (but different than) what you may see in a syndication or investment club investment.

Now they might argue their tenants stay for many years so vacancy is almost nonexistent, but I am skeptical of this kind of thing.Is there any major metro in the country that is not a Detroit or Chicago where 10+ cap on a C level duplex or something is achievable?

I have had a number of (non-RE) issues with PayPal and advise anyone to stay away from them.

If staying he needs to pony up what she is owed, and sign a new lease with his name only.