What is the experience with this program - Pro/Cons, watch outs, etc?. 

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

Also, watch out for any litigation or construction issues that could lead to HOA fee increases down the road.Alternatively, you could consider a good deal on a single-family home or a 2-4 unit property.

After watching my wife, son and I build our 8locations over the last 7 years, he finally got the itch and saidhey, help me get started.Already posted theprocess he went through on another post developing the location.

These loans are quick and align well with your goal of selling within the year...just watch for carrying costs.For Home 2, the $210K mortgage complicates things a bit, but it’s not a dealbreaker.

Having watched many prior co-workers get paid, cash their check at the casino, and promptly deposit it all into a slot machine I can tell you with pretty good certainty that casinos don't have a positive effect on disposable income and good use of the existing income in the area surrounding :)Are there solid local employers OTHER than the casino in a 15-minute drive? 

So, you want to watch tenant credit scores, see the default chart below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% PROPERTY VALUES: What are buyers willing to pay for a property? 

As you read these books, watch the BiggerPockets podcasts.

And watch out with scents—unscented products keep everyone happy.

What are the watch outs or steps that you recommend?