:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Is is a 1 BR cabin or 8 BR oceanfront house with a pool?

The HOA covers exterior/roofing, parking management, landscaping, and pools. 

Currently only 30 people per milePersonal Preferences:Local Metro: Older build , more expensive (at best its 0-100 cash-flow), higher rents, larger tenant pool Nearby Rural: New build , cheaper (Will cash flow +500), rents a little softer but demand for new products and neighborhoods is real, tighter tenant pool.

However, as asset valuations become clearer, the vast pool of capital remaining in the sector could offer strategic opportunities for informed investors.Here are several graphs illustrating the current national commercial office market in The United States of America:Full Commercial Office Market Report Here: https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1189856/United_States-Office-Capital_National-2024-03-10_a.pdf

It's going to reduce your potential renter pool and they're not going to pay top dollar so just keep that in mind.

I brought up the idea with my friend that he does the same thing, and we pool our money together.

A 1.5-2.5 M home will do ~ 250k+ depending if the house has a pool etc. 

In my opinion, a good operator should have a strong pool of investors already and wouldn't need to use a crowdfunding site. 

Obviously, I don't know anything about your finances, so for all I know, you may have a few million in the bank, and this project is just a fun experiment that wouldn't even be a drop in the bucket if it all turns south...but, regardless, you'll want to model out what would happen if this project crashes and burns...As you may know, managing a rental in a D to F area (or even a C area) is usually not recommended (for many reasons), and funding a rehab with credit cards is also usually not recommended (again, for many reasons). ...even highly experienced investors often won't touch anything lower than C grade because of all the difficulties of managing and re-selling them...If you're dead set on rehabbing the place and keeping it, I'd strongly suggest studying up thoroughly on the local rental market and tenant pool (e.g.; rent medians and lower and upper bounds, typical days on market before securing a tenant, local vacancy rates, tenants' typical income, education level, employment opportunities, credit, and rental history).