They need a contract with email addresses and social security numbers to provide the amount.

He is securing expensive debt, not debt through a bank, isn't putting any capital into the deal and structuring the equity investment in a highly risky manner without any upside offered to the investor.

It isn't having paid off properties that offers security, there are still taxes, insurance, maintenance and management involved. 

We don't even a Board yet (it's a new build), and it's all being coordinated by the HOA management company for the building.The developer offered to make the new door key fobbed on each side for entry, and would install a new security camera. 

Quote from @Matt Meier: Good morning,I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route.

When the rent rates stabilize, I suspect they'll bring it back.I wouldn't try it in a location like Portland, but 99% of the country would be fine with a policy like this as long as it is disclosed and applied equally.

@Justin FondrenIf your credit score is in the 700–730 range, you're in a great position to secure favorable loan terms.

Now, I'm imaging a scenario when every one of these tenants move out that I'll be paying their entire security deposit + interest even if there are damages beyond normal wear and tear. 

Private lenders or even creating a small syndicate with a group of investors might also be worth exploring, especially since you can point to your uncle’s track record and your own experience managing rentals as a selling point.If timing is tight, you could look into a bridge loan to secure the property while figuring out a more permanent solution.

If you could see that the population growth was increasing, then you could invest with some security.