Hi @Michael Simmonds,To reiterate what @Chris Harper has said above, your timeline is right on track for what we're seeing in this area right now.

Hopefully you have kept track of where they work and bank. 

This will allow you to learn the ropes and minimize your risk as you gain experience.Monitor your investments: Continuously track your investments' performance, including rental income, expenses, and property value.

This is my track record so far , in term of DSCR for each property:a) ex primary property A, DSCR 1.1x , purchase 350k, FMV 1.1Mb) ex primary property B duplex, DSCR 1.8x, decided to sell after BRRRc) ex primary property C condo, DSCR 0.9x , decided to sell when appreciation > 500kd) current property, ADU/basement, DSCR 1.1x purchase 800k, FMV 1.2M rehab 70kI do have others too that I purchased solely for rental, but yea in the last 12 years I've been collecting and selling primary few times.I am now understand there's product called no-ratio loan for primary mortgage, with this product this can be used if conventional can't be used.Again if you focus on your W2 and focus collecting primary you would forget to buy rental/OOS because appreciation every year is even greater than rental.Some hints: average appreciation is 4-6% depending on year ; but the beauty of this strategy is actually you live in the same primary house, your mortgage is 100% paid by your tenants and your tenant never meet you because we live in different building structure.

Plus they need to be dual fire and carbon monoxide if by flammables like fireplaces, gas stoves etc.

@Nam PhamContracts: Have a detailed contract outlining the scope of work, deadlines, payment schedules, and materials to be used.Updates: Establish a schedule for regular updates, such as weekly calls or video conferences, to discuss progress and any issues.Project Management: Utilize project management tools like Trello, Asana, to track progress, manage tasks, and store documents.Documentation: Request regular photo and video updates.

I kept track of the properties another investor bought and they have had to lower the prices to flip it. 

I would just stop going there instead trying to track down the owners and analyzing their corporate structure.  

I'm not familiar with the case, and don't have rentals there, but there is a bit of poetic justice here...not that I agree with the overall result, but far too often I interact those who simply institute 'clauses' in a contract (Lease, PSA, Options etc) which are grossly one sided or as it seems in this case unlawful.

Any investors/ buyers of mine looking for a vacation rental in Colorado tens to have dual goals -- investment and personal use.