If they're not actively engaged in the operations/management and are members/LPs only for the purpose of providing capital, then you likely have a security.

The company I work for has been doing multi-family construction builds (anywhere from 30-300+ unit apartment buildings). We even have a sister property management company, landscaping company, and real estate brokerag...

Are LPs entitled to see foreclosure, bank loan related docs?

Ultimately, this IS our fault as LPs. 

Investors come in as LPs and receive 90% of all profits.

I've learned of several other LPs in the same boat through the Kelley Clarke Law firm that is representing several of us and through the Reddit forum linked below.https://www.reddit.com/r/investing/comments/1hq19lu/wavemark...A principle at the firm suspects they are under investigation by the SEC. 

As has been noted in various conversations here, my challenge with the capital raiser/FoF model is that many of these groups are not offering any better terms to their LPs than the LPs could achieve on their own, given a lot of the groups the FoF raise for have very low minimums, themselves. 

If the government wants the debt to drop, forcing interest rates lower would likely help that by stimulating the economy.

Hoping both LPs and GPs can weigh in to help newer investors sharpen their due diligence skills

To your point, Scott, being in your listings and tweaking/changing things we've found stimulates the algorithm.