I looked up the tax records and any other information I could find and discovered that it was a motel that was condemned after many code violations resulting in injuries.

In time my guess is you might find it a bit frustrating and discover that you actually make more, and faster, by partnering with an established local firm...which is why I brought up syndication investments.

The numbers made great sense to continue with this rental purchase.I recently discovered an interesting duplex rental in West Palm Beach, FL, not all too far from where I live.

So many flaws in this theory..Her role is minimal?  

I recently got pulled into an "as-is" deal to help out another agent, where the seller had agreed to a lower price and in exchange would not even want to do a $200 repair at this point - later the inspection discovered that an addition to the house had been built over the risers of the septic tanks.

As you've discovered, most people aren't that handy and the homes stay just as you left them, which makes your park look bad.

I am sure this is flawed.

What I discovered is that the 50 lowest-priced properties were producing 15% of my income but almost 50% of my work.

It was a few years later I discovered real estate investing.

These spreadsheets and systems ignore the reality of flawed people.