You can get 90% of the future equity, but you do have to have a GC do all of the work for you so you cannot DIY for future repairs. 

or is it the students that are failing the Gurus?

The overall LTV (including all 3 mortgages) will be key and your selling point will need to be that the 2nd mortgage ($8k) will burn off in 2.5 years (based on your surprise that it was even out there, I'd recommend that you follow up in 2.5 years and ensure that it's been satisified, so that it doesn't surprise you again in the future).Does the $8k grant vest over the 5 years? 

Well even if the rent is equal to the mortgage, you'll still be in the negative after repairs, CapEx, vacancy, etc.Why would you specifically be thinking of investing at a negative cash flow?

Your first deal is about learning, so focus on the fundamentals and think long-term, this is just the beginning of building wealth!

Everything worked out and see DSCRs in the future.

What happened to make the deals become total losses to the LPs?

I've been wanting to expand out of my market in Iowa, and see that the Winter Haven, Lakeland, Haines City areas are similar to purchase points as my market.

I would send the same notice to all the tenants.

Please read the rules here.