Make sure you understand the basic math, what qualifies as a good investment, how to manage your investment and prevent losses, etc.I would start with Set For Life by Scott Trench.

We do preventive rodding, but I guess it didn't get the job done.  

@Ryan BrayHUD will not turn on the utilities and my guess is you are outside your 15 day window where you could at your own expense provided that the PCR report did not find anything that would prevent it.Your option is to ask your lender if there is any work around such as an escrow for repairs or an as-is appraisal. 

Clean it up a bit to get most bang for the buck add ons and preventative damage items like water leaks.

Otherwise, you could also provide prevention recommendations somewhere on the lease that includes what you've mentioned above.Assuming you don't have a lawyer to help with your rental agreement you can find some sample clauses on a site such as Law Insider.

If accurate then the SEC rules are designed to prevent unsophisticated investors from getting into this exact situation.

@Don Konipol I don't think Nathan was suggesting that honesty and ethics will prevent being named in a lawsuit.  

Good way to prevent collusion.

Hurricane Helene prevented us from hitting $200k revenue this year since the interstate got shut down for major repairs and tourism traffic suffered this last couple of months which are always the best months.

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.