And if a group is out there projecting that 20% IRRs are still achievable for a typical value-add play, I get very suspicious, and ask for a lot of "projections vs actuals" on current deals to confirm their assumptions.

Court confirmed sales prevent you from assigning contracts, while Full Authority sales (which only require noticing) get so much attention from competition that margins are compressed to the point of not worth the trouble for all but a few.If you actually have your own funds (!)

This affords you 2-3 properties using a portion of the $400K you have and the rest to hold onto for reserves and to stay cash fluid.

Heard there is a massive problem with the building, can anyone confirm?

Charging and then returning ($1,000 security for example) will cost around $35 for each reservation. 

Key determinants include the percentage of owner-occupied units, contribution percentage for the HOA budget towards reserves, and a clean record without litigation, delinquencies, or major issues.

I agree and confirm the pause in Idyllwild.

I did have to cut down one because a certified arborist confirmed that it was unhealthy and would eventually fall on my house.

As far as I know the well and septic are good but I will confirm with an inspection. 

I feel like its not so bad to have a ton of debt if say you had a good pile of reserves for when you need it.