I recognize there are many expenses, but I suspect most investors have not realized the historical return in dollars just having a property sitting empty in our great market. 

There were lots of issues with the house as follows:1) The house was built without a permit2) The house was for the most part sitting on the floor.

Over price your flip and you sit on market for months, break even, or worse case take a loss. 

Lol, yeah, seriously, go for it, please sit the sidelines I am VERY a-ok with that.

Sit down and meet with the PM company and LISTEN to their side of the story.I would say that being out $10k is probably on the low side for most full blown evictions where the unit was "trashed".

I think syndications were less known to the general public back then compared to this cycle  Some interesting post-mortem analysis to be had for sure; I’m just relieved that I’m sitting on the outside looking at all this.

This is an all-too-common mistake: a rental sits vacant, less-than-desirable tenants are approved, and then those tenants don't pay and cause issues.You have to rip the bandaid off and ask them to leave.This may sound harsh, but it's not entirely the tenant's fault.

These would be funds that do not have my name attached and have not been sitting in my account for 3+ months.  

My condo sits on the second floor.

Think about it- if the property is cheap and it's been sitting for a while, maybe that's because on one wants to live in that area.