Does anyone have a good resource for some sort of turnaround plan or success plan they have put together as essentially a business plan for a multifamily property?

If you do not take the gold for delivery and have some sort of representative interests in the gold- look up what happened to Iceland during the banking failures.

When using hard money, your rate is usually higher and you also have to pay some sort of lender fees and points. 

Welp like they say expect the worst hope for the best.

What sort of insurance does the manager carry to make sure she can make you whole should things go wrong?

A well-crafted agreement would have anticipated this sort of situation and outlined a process. 

Before you even start spend a few hours and a lot of discussion to sort out every possible contingency.  

Hey everyone,Me and my wife just purchased a 3B house in Charlotte, that requires quite a bit of work, and we are looking to expand our network here, as we are new to Charlotte, so this is sort of out-of-state investing for us.

The worst thing an Owner can do is to live in the same place as the Tenants. 

Hi Ropo,@Brie Schmidt is your "go to" for anything Chicago related.I've owned a condo there since 2017 and it's left a sour taste in my mouth as it hasn't moved in value at all.My fault tho as it was a "trophy property" of sorts so only have myself to blame.I've warmed up to the idea of house hacking over the years but still think that "money makes money" if you want to be active.$100,000 can go a long way in many markets when it comes to property flipping.But then again, not everyone wants to be active so I get it.Something to also consider is how landlord friendly the state is.I've heard some horror stories with Illinois but potato "potato" lol.My tenant for example is high net and I get direct withdrawal payment on the 28th of every month and hasn't skipped a beat in 4 years.Wishing you much success