. $75/door is nice until the market turns against you or you have a prolonged vacancy/ need for rehab of the unit(s).

We typically run the drain line from the HRV (as we often mount them in the laundry rm/space) into this floor drain so it's improbable that it will dry out (any more than the trap on the vanity sink ... which would only occur with prolonged vacancy).... but code always gets the last word :-)

The Trust needs to be the buyer to keep that individual in line with the estate.While you could do all this with L/Os it prolongs the issues of transfer and the future loan is a state of limbo, even with credit issues addressed, IMO.

The last thing you want to do is say the wrong thing (without even knowing it) and getting yourself into trouble and prolonging the process.

I see an HOA as a major Con possibly prolonging the process digging into profitability.

In terms of the sweet spot, you need to find the owners that have their assets for a prolonged period of time with more than 50% equity in it and older people that will probably want to either downsize or move down south closer towards their retirement.

I feel that most new real estate investors fail to adequately understand the real risks of something going seriously wrong: 1) prolonged vacancy, 2) disaster tenant, 3) above average repairs (perhaps massive structural upgrades required).Some investors like the idea of earning a few hundred dollars in 'passive income' from real estate investments, but they aren't really passive if you have to spend all day managing them.

The biggest problem is that I they just keep prolonging this and not only are my finances taking a hit but also my personal and professional career.  

My educated guess is that there will be a large swath of landlords that would take less rent than no rent to minimize their vacancy expense or a prolonged vacancy.

I find that most of the flip remodels consist of kitchen, bath, flooring, and paint, while the big ticket items that actually improve the quality of the home and prolong the life of the property are ignored such as roof, structural, mechanicals, and hidden items in crawl spaces and attics (water penetrations, mold, termite, etc).