To expect that a condo purchased at a point in time in a prime area of a city like NYC or SF or London will likely be selling for a higher price in 10 years may not be speculation after all.

I made it a commitment to visit the place at least once per week to make sure issues were addressed in timely manner and to get a feel for the property.

He always was in time, but switched jobs, and told me he was going to be late, and pay late fee and eveything on the 15th. 

The attorney for the seller (Fannie Mae) suggested that I sign a hold harmless agreement so we can close in time.

Perhaps I’m a bit intimated by the much larger financial barriers to entry, but I’m sure I can figure out ways to solve that riddle.

Pleasant, before living in Houston I would have considered Texarkana the big city.

That is a bad investment at that point in time. 

So if the full SD is $1000 and they paid $200 to hold the apt for a few weeks then they only need to come with 1st months rent and $800 to round up the SD at move in time.

The association could take the money and your pissed off tenant still has to find a place in like 9 months and wrecks the place and stops paying you and the tenants family and friends get involved & does not move out in time and the market changes for worse and the association is fining you for stupid stuff etc.

An intimate knowledge of the market will help you identify deals.