The person they consider having the deep pockets. 

I have to usually explain that just because the owner made xyz does not the next person will or even care.

Quote from @Allen Berrebbi: Quote from @Dominic Mazzarella: I have personally owned and managed a multifamily property in Illinois and after selling it I said I would never invest in that state again.

Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!

There are many resources for you to connect online and in person.

Hate to hear the guy claimed to be a Marine, whether it’s true or not, I have come to realization no matter the person you have to trust your gut about a person and this article only secures those feelings.

@Sonja Revells , after reviewing the agreement you uploaded, I realized it could be a bit tough to fight for your EMD due to these sketchy clauses.

Can this person now be "a real estate" professional? 

I would recommend targeting 30 day minimum rentals (Most associations are 90+), allowing 12+ rentals per year (most allow 1-3), and no in-person screening for tenants required.

Personally, I've been in this niche since 2007.