But the HOA insisting on owners using their management company would be a major drawback!

Since I returned their principal investment and the profits in full, wouldn't I have been more akin to a investment broker who was acting on their behalf?

has drawbacks, of, course.

I'm a licensed broker, but would be acting as principal, so would welcome any introductions to any brokers that have off market opportunities. 

The 10 year affect of appreciation and principal pay down is crazy

. - RU-2, TWO-FAMILY RESIDENTIAL DISTRICT[19]SHARE LINK TO SECTIONPRINT SECTIONDOWNLOAD (DOCX) OF SECTIONSEMAIL SECTIONCOMPARE VERSIONSFootnotes: --- (19) ---Cross reference— Height of fences, walls and hedges in RU Districts, § 33-11; location of swimming pools in RU-2 Districts, § 33-20(c); maximum setback for principal residential buildings in RU-2 Districts, § 33-45.Sec. 33-201. - Uses permitted.SHARE LINK TO SECTIONPRINT SECTIONDOWNLOAD (DOCX) OF SECTIONSEMAIL SECTIONCOMPARE VERSIONSNo land, body of water and/or structure shall be used or permitted to be used and no structure shall be hereafter erected, constructed, moved, reconstructed or structurally altered for any purpose in an RU-2 District which is designed, arranged, or intended to be used or occupied for any purpose, unless otherwise provided for, excepting for one or more of the following uses:(1)Every use permitted in RU-1, RU-1M(a) and RU-1M(b) Districts.(1.1)Workforce housing units in compliance with the provisions of Article XIIA of this Code.(2)On lots meeting the requirements for two-family use, every use as a duplex or two-family residence, including two private garages.

As long as you can hold onto the property you can continue to get the appreciation, principal pay down, tax benefits etc.

The property, located in a desirable rental pocket, boasted three bedrooms, one and a half bathrooms, and functional central heating and air conditioning systems.Our financing arrangement spanned 30 years, resulting in a monthly payment of $990.58 covering principal, interes What made you interested in investing in this type of deal?

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

It took the company about 15 yrs of being around and building their portfolio before the two principals of the company were able to remove themselves from all personal guarantees and get to purely non-recourse debt with bad boy carveouts.When looking at MF loans, you can often find non-recourse debt on acquisition financing as low as about $1mm loan balance, even with no real experience (granted, you will need an experienced management company lined up and personal financial statements showing a net worth equal to loan balance, but you are not putting your personal financials at risk like many commercial loans).