Everyone's situation is different.

Has anyone else encountered a situation like this?

If you’re using financing, this situation might also influence lender decisions.I have many rentals in Jacksonville FL and have had to evict three tenants.

Sounds like they are dumping a bad 1031 property into a REIT and spreading the financial burden upon existing REIT members. 

The credit score is the single best indicator of how one pays their financial obligations.

Quote from @Trevor Finn: Hey @Jordan Laney,Oof, that's a tough situation.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

That's a bit different than this situation, but just wanted to share.

While many gurus glorify the strategies they’re selling through courses or books, methods like BRRRR aren’t easy and can put you in a tough financial spot if you’re not careful.

That a situation where only the bank wins, via interest payments.