buy wrong and you end up like these folkshttps://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/610/topics/990055-disas...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...

When I did my early high level due diligence it looked to me like they weren't issuing any new permits, but I would love to be wrong on that.I do know, having just stayed there in an airbnb, that even for existing permits the rules are extremely strict. 

We have had tenants for two years with no problems, so hopefully we aren’t doing anything wrong.

What else is wrong with the home? 

With a fund some can offer tax preferred treatment such as dividend vs ordinary income so it’s something to review not just gross but net returnsThere is no right or wrong answer to this, it’s truly a preference and how comfortable you are with each type of investment

Use 50% rule as quick verification, but at your estimated cash flow at the allocation for maintenance/cap ex is wrong. 

I don’t know if some tiles were replaced or installed in the wrong direction (since they do have a “grain” to hide seams) or replaced, but I was very disappointed that looking across the room I could easily pick out a number of the squares.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

This changes with a few factors but it works to prevent issues in buying the wrong property.

Everyone is nice when nothing is going wrong, .. it is when things go wrong is how they behave and treat you , that matters.