The pros as I see it are Good ROI for the groupMoney made for my mentorI get the house for 25k under list with the security of no other offers coming in and the possibility of 25k profit.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

I also wanted to add a few security cameras outside and in the common area.

@Ben Burgess Like you, I was about 8 years into my career in Tech when I made the decision to get into RE investing, and funny enough, secured my first rental property in Medford!

I may be able to help you secure a no-experience ground-up construction loan, even though lenders typically require someone with prior construction experience.If you're willing to reach out, I’d be happy to discuss the possibility of pulling some strings to get this project funded.

You could also consider seller financing, where you work out a deal with the sellers to pay off the remaining mortgage balance while securing the deed.All these options would help you avoid the risks of not holding title to the properties while also giving you access to the equity you've built.

Nothing was noted or said, other than make sure you have security in place.  

Tools like Cozy or Buildium can streamline processes.Understand Legal Obligations: Stay updated on Colorado landlord-tenant laws to ensure you're compliant with security deposits, lease agreements, and eviction processes.Effective Communication: Set clear expectations with your tenants about communication channels and response times.Regular Inspections: Schedule periodic visits or hire someone to conduct property inspections to catch minor issues before they become major problems.Final ThoughtsWeigh the pros and cons based on your circumstances.

With private lending secured, I bought the property, excited to add another rental to my portfolio.What I didn’t expect was just how much of a nightmare this property would turn into.After closing, we began the renovation.

Based on an estimated appraisal of $1.1 - $1.2 million, you could secure a loan of up to $900K (75% LTV).