Legal and Regulatory HurdlesReal estate transactions involve legal complexities that can overwhelm newcomers.Solution: Learn about legal requirements early on and seek professional advice when needed.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

For reference, we're heavily involved in the co-living space, which is an unorthodox strategy but can perform exceptionally well with the right property and systems in place.

So back to the drawing board, but for myself the big takeaway is to continue on the course that I set out on and too continually learn and stay involved with goals that I set out on and to stay focused.

Going OOS involves a LOT more trust & risk with whatever team you put together. 

I was never involved with the selection process. 

If you can involve the local fire department to help with defensible space as a start. 

These structures are significantly more complicated than a typical 1031 Exchange structure and there are inherent risks involved in the transaction, some of which are discussed below.

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

I suspect, as more and more leasing-related disputes are occurring involving credit cards, the companies have already figured out their method of handling these claims.