Apparently they take preferred interest in your company or have you sign a UCC cash flow agreement.

But the location is great, and the layout could work for a flip or a rental with multiple units.Would you take this on, or does it seem like more hassle than it’s worth?

I believe it is 27 years of depreciation that you hedge against any cash flow you received. 

I’m interested in how others evaluate and track down these kinds of properties, especially from a distance.For example:When looking at distressed properties in other states or cities, what are your main indicators that it’s worth pursuing?

For the down payment, aiming for 5-10% down balances cash flow flexibility with homeownership. 

The right market for you depends on whether you prioritize cash flow (Augusta, Columbia) or long-term appreciation (Greenville, Huntsville).

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

On one hand I like that it will probably cash flow (we expected to break even at best) and know there's issues with canceling reservations.

When does the cash flow start? 

We were just happy our first and second mortgage was going to be covered and have a little cash flow at the same time.