If you violate any of these rules you could blow up your IRA or 401k and the IRS could force you to distribute all of the assets in the IRA or 401k.

All I was told was that funding dried up.

I have not taken his training but have spoken with him several times about overall real estate investing and he is a realist and does not blow sunshine where you know some people blow it.

Market capacityAnd yes there will be Black Swan events that blow the project up.  

Summer is dry here and fires are a real concern so I say nope.We have a $500 security deposit and it is clear that I will keep it if you smoke anywhere on the property.

My only experience is with non-payment of rent, and to me that's very cut and dry.

Or did the windws blow stuff off the house or blow stuff into the house that represents the damage?   

When things "blow up" with a large group of kids, it can get very, very ugly and we want to have documentation that we've done the right things in a reasonable amount of time.We also require a "House Mom" or a "House Dad" for all of our properties.

We had a major blow when last year mold was brought to our attention , that as a 20,000 remediation that had to be dealt immediately.

As you can imagine capital starts drying up quickly "trapping" 20% into each unit.