The reason is the increase in rents wasn't significant enough to justify the risk of vacancy.

The next part that I learned, and this an IRS rule, is that you can only have an average balance of $50K out per calendar year. 

In which case, the "general" rule is the closer you are to downtown the better. 

The sponsor if they even consider allowing you would be a huge red flag for me knowing if they will accept non accredited investors what other rules are they breaking. 3.

A CPA ensures compliance with IRS rules, maximizes deductions, and avoids costly mistakes, especially for higher-income earners with multiple income streams.

Consult eviction attorney regarding commercial; I'm specifically a residential PM and commercial usually has different rules because of the nature of the investment and occupancy (tenant doesn't [usually] live there)

The rule of thumb for me used to be that the property needs to be able to do 20% of the purchase price in gross rental income.

When it comes to housing, the FHA rules apply in addition to those of your state/city.

Fees should be clearly stated in writing, easy to understand, and justifiable.

This can be very expensive and is usually the worst choice because you can't justify the cost.2.