Their failure was most likely due to insuficient knowledge/education, insuficient financial security and a poor business plan.It's all sunshine and roses until it isn't.

@Rylan Lacey I've never seen that model until I visited PHX in December (for a hot pool and sunshine vacation!).

All of those things cost money and should be accounted for in the initial equations or at the very least, a part of the monthly rents should be set aside to build up a reserve amount, but that would reduce the monthly "profit".Maybe this property will be all sunshine and lollipops and I hope it is, but I see lots of potential pitfalls and costs when margins are this slim.  

There are a million reasons for everything, but this type of investor is definitely clouding the waters in a lot of ways.I'm tracking with you on not everything needs to be positive, rainbows and sunshine.

This way I get the beautiful summers of WA and the sunshine of CA.

Sunshine Title is local in Jacksonville, FL...you can use transactional funding as well.I agreed to let buyer use their attorney...she was a fellow agent like myself and wasn't familiar with an assignment so I said sure.....I just like to maintain control of the deal with a title company that I am confident knows how to handle my deals.I just shared the contract and assignment contract with her and her attorney and they said no problem..if it is all legal and everything is disclosed there will be no problems.  

I agree it is definitely not all cash flow and sunshine and often the numbers don't tell the whole story with a lot of hidden fee's, high utilities, that you end up finding out later.

@Jonathan Greene Hey brother, don't be jealous, plenty of sunshine for everyone :).