My buy box is C+/B- 2000 sq ft or better, no HOA, no Pool, 2.5 bathrooms or better and plenty of parking. 

Investor pool seems way too small to fund this effort.  

Think hiking, mountain biking, white water rafting and a community overall focused on all natural things and sustainability.

I grabbed my multi meter and showed them the voltage in the water . 

Long story short.. they inflated rent projections, sliced corners on property management, and almost left him holding the bag when the actual numbers came in.Vetting a syndicate means getting cozy with the sponsor’s track record, verifying their underwriting approach, and understanding whether they’ve handled rough waters before.

If heat goes out in the winter we drop off several units, so they can be placed in different parts of the house - including every room with water like kitchen and bathrooms.We also have dehumidifiers, carpet blowers, shop vacs, puddle-sucker pumps, extra hoses, extra sump pumps with battery pack, squeegees, and portable AC units ready to deploy. 

Many people have a mortgage on a property where the land value is much greater than the home (aka near the water) and insurance is not able to pay off your entire outstanding mortgage.

Check for cracks in the foundation, condition of the mechanicals, any water coming into the basement, etc. 

Otherwise, you will likely be copying someone else's false expectations.I have reviewed hundreds of such self-constructed logs, and most of them will not hold water.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.