I know some might disagree.The challenge is if someone applies and meets all your criteria and you reject them, I would hate for you to end up in some legal hot water.

I have no idea what performance of the first two funds has been like, and maybe they're blowing it out of the water, in which case they might partially justify a more expensive carry regime.

In case I have to sell or I quit running STRs I wouldn't want to be under water out the gate.

Usually if it is something no HoA I solve the issues but now the prolem is under the HoA mercy that seems to careless and the water damages are severe and scary on the photos.

I have just started looking at properties and the first SFH we toured had just had the furnace and water heater stolen! 

My cleaners take a video after every turn, my team goes in to check everything is good after cleaning and record salt and PH level logs and I have a licensed plumber who is in charge of maintaining plumbing, water heater, and boiler system with logs.

I started with 2 and wanted to test the waters, so far it’s luke warm.

@Marc Robinson what's the lot rent, who pays what utilities and what's the source of the water and sewer?

Don’t assume that you will have water.

You said public water was available...would the lots require a septic system to be installed or is public sewer available?