I am a firm believer that Colorado Springs is a great place to invest due to its strong economy, temperate climate, beautiful views and easy access to outdoor activities.The market is starting to show signs of being depressed, meaning that there will be more opportunities for investors to find some great deals. 

Market OverviewThe Los Angeles hospitality market showed strong recovery and growth in Q1 2024, with key performance indicators demonstrating significant improvement from the previous year.

You get the card, put it in a drawer, and never use it, but you will build a credit history based on their performance record.Work hard and save money.

Professional management and screening will have the largest impact on how your investment performs month to month from a cash flow perspective. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

From what I'm gathering on this thread, though, it seems like there wouldn't be anything to "preapprove" if the intent is to use a portfolio loan; you'd have to have a performing asset in place in order to demonstrate an ability for the investor or LLC holding the property to pay back the loan, and you'd run the risk of leaving all your capital tied up in the property if you were ultimately unable to get approved for that portfolio loan when the time came. 

However, I’d think most contracts have a deadline for performance where you can then terminate and get your earnest money deposit back and move on.

The property needs a new roof, a new parking lot, and a few other minor improvements to enhance its performance.

Also read your lease as if tenant could easily see damage being done and did not report it, they may be liable, not sure how that works in court if it comes to it, especially if you didn’t perform inspections that would have found it.

It is likely any investment in that area will out perform larger market.Note if someone can creatively address the tic/coop financing issue, they could virtually split anywhere.