One of the biggest challenges for everyone involved is being on the same page about the actual time required for maintenance.DIY landlords rarely properly track their time when it comes to property management in general - tracking their true time invested in maintenance is where they perform the worst.Investors that hire PMCs are rarely any better at understanding the true amount of time maintenance takes.

Every bank at that time had way too many non-performing assets on its books.

In the case of GEG, we let our members know we did not have a track record with them - they were new to us and just being tested - and therefore it was even more important to perform thorough due diligence since we can't be involved in the transaction. 

I am also looking for tax optimization as the business will require cash reserves and is a high risk business from a liability perspective.

its genius really.. most bird dogs work for locals on a performance basis and don't have to pay the investor to bring them deals.. 

How do other regular condos perform versus them? 

There is no housing market in US where real estate can out perform stocks.

So now you are throwing good money after bad probably without a guarantee of any actual performance of the company until much later down the line.  

Even with the discount, the investor will be a life style investor who wants to own in PR more than optimize return.  

I am perfectly fine holding X amount in real estate.If I do see an opportunity another option is to lock it up and sell one of my existing if I think this property will perform or appreciate significantly more.