When they demoed it for me it looked so easy to use and understand, the software was the main reason I decided to take the leap. 

The reason I ask is at that rent point there is no profit on a sustained hold.   

I've been reasonably happy with this so far, since it's made the process fairly passive. 

It's open for interpretation, but if it went in front of a judge, they would look at the reasonableness of the situation. 

I just listed my last property for sale, a fourplex in Pocatello, because now I focus more on commercial RE and syndications to be a true passive investor and not deal with tenants and repairs.

(The same reason many people (maybe mostly men?)

There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).

My managment company has made more than a reasonable amount of attempts to get the HOA to have this repaired. 

It appears he is doing deals most people can't do for multitudes of reasons.

This may be controversial, but "true passive income" in my opinion is one thing and one thing only.