However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves. 

One of the major deficiencies of this property is it has no garage.

Let’s say you have 12 lots and if everything went perfect in the exchange you would recognize your $30,000 profit per lot across the board.  

To them, everything takes "5 minutes" to do.The entire PMC industry has major challenges when it comes to handling maintenance, so it's a featured topic at most industry conferences. 

Hard not to when you look at the portion of the profit the GC takes on a build.

Even one vacancy or non-paying tenant could potentially be a major problem.And yes, there were vacancies, and non-paying tenants, and major problems.

The truth is if your investors have no involvement in the operations, If they just put in money and expect to get a profit, you have created a de facto syndication.2) I see a ton of people who just raise money for the syndication. 

Hands down other than major developers hedge funds and big time syndicators the biggest money in real estate today is the successful Guru trainer etc.. 

And what I mean is the business is not profitable until you add at lease 100 doors.  

Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.