Wife and I would prefer the lake house we haven’t bought yet as it checks all the boxes, but might be worth having 2 properties right next to each other. 

I am so frustrated and saddened this person did such a thing but was told that If I sell the property, which I prefer to do by seller finance, the code enforcement cancels.

(I’d prefer you found a way to put down 20% and save the PMI as well as lower mortgage origination costs and on going interest costs.

Do they have preferred vendors that always answer the phone because it is that PM calling?

In many states, an LLC can keep your name off public records, which is great if you prefer to keep your ownership private or avoid being directly associated with the property.Having an LLC also makes you look more professional.

Just that in this case I think it’s not a viable niche.

Use some for buy and hold (I personally would prefer apartments rather than buying a few single family homes) and some for lending/trust deed investing.In either category, you must know what you are doing, know how to vet the investment, how to vet the sponsor (if investing in a larger fund of some sort), the laws and regulations on the lending side, how to investigate which areas to invest in buy and hold and notes/trust deeds for that matter.So as you have already said several times, lots to think about . . . 

If only someone had written a book to help people like you.I prefer you spend some time educating yourself before jumping in, but that depends on how bad the PM is and how quickly you can educate yourself and take control.If you choose to terminate, read your PM Agreement carefully to see if there are any termination penalties.

100% preference.

Hi Krysten, good for you for finding a niche and what you're interested in!