What virtually all these people have in common is they know less than $hit about RE.  

For those price points around the 2% is common.

Croix's economy has been depressed the past few years with the closing of the HOVENSA oil refinery which was the second largest employer on the island (second only to the government).Closings must be handled by an attorney in the Territory.

It is a common theme in the area and less competition is making it harder to keep prices down, but I'll definitely be shopping around. 

Obviously HOA fees are usually pretty outrageous when compared to properties where there is no HOA or it's a typical SFR neighborhood with typical HOA dues for things like cutting the grass in common areas, or servicing the neighborhood pool. 

My only fear is making the jump with no employment set in place.

You will also want to develop a tenant screening process that includes credit checks, background checks, employment verification, and references from previous landlords.

It certainly means things aren't going to plan - but that is very common in MF syndications these days.  

Networking with other investors and seeking advice from financial advisors can provide valuable insights and help you avoid common pitfalls.Keep an eye on your financial health by maintaining an emergency fund and avoiding over-leveraging.

Is that something that is common?