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They’re asking that I designate a project manager who would be able to visit the site regularly, but is not the GC.

In my city there isn't a single listing for under a million and people overbid and pay in cash on a regular basis.

So, if I am receiving regular rental income, payroll deposit, and such that can be sourced, it can be immediately used and does not require the 60 day period, correct?

. • Regular monitoring of approved leases to ensure proper actions are taken at the leasing expiration and renewal dates. • Preparation of quarterly reports for the Board of Directors outlining the current status of the leasing program. • Coordination with the Association attorney as needed for enforcement of the leasing provisions. • Assessment and collection of costs for this program from the leased units by the authority of the Community Covenants, Conditions, and Restrictions (CCRs), $150/year.

That way you still make a regular income but don't have to be a landlord.

As for our local rentals in Illinois, we still use the old-school regular key for each unit too.Thank you everyone for your suggestions.

You compromised your lendability by taking write-offs to show you didn't make much so in a bank's eyes, you didn't make much.Any alternatives that are come here (sub to, seller finance) aren't realistic for a regular home buyer.

I learned that I enjoy investing in value-add multifamily which has a great mix of regular cashflow, but also upside upon the exit.

Learn from it and do regular inspections-start more frequently with new tenants and then decrease the frequency.