Hey Ivan, since you mentioned you're new to real estate investing, starting with a turnkey property and house hacking first might be a safer bet.

Trust but verify" is one of the fundamental rules of successful RE investing.Caveat: if you have an incredible, proven, trustworthy team of boots on the ground who you've worked with for many years and through many deals, and they've never steered you wrong--in that scenario, I *might* take their word for it...but, most investors (esp. newbies) don't have that type of OOS team in-place.

You bet.

That's what I would do (and have done), and it's the much safer bet, with a higher probability of success. 

Your best bet is to start here.

Starting tomorrow, May 1st, 2024, we're launching a new service that connects real estate investors with vetted and trustworthy property managers.

But somewhere around that range is a safe bet.

Further, too many groups coming together can mean too many cooks in the kitchen and lack of the ability to execute the biz plan properly.You bet on the jockey first. 

You are betting on them to build the condos to the standard they are promising you! 

I've done it with credit card payments on vacation rentals, won every time, and the money was returned to me.I will bet this is a tenant with a lower credit score.