He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

My question is do I go forward with purchasing the property and deal with the higher insurance and potential hazard or is it smarter to walk away?

If so, they all have / bring it's own set of questions, guidelines to know about.#4 - Have someone local that you trust, go over zoom and get to ask them question.

Let me know if you have specific questions and good luck in your search. 

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

Quote from @Trevor Finn: Hey @Doug Kirk,Great question!

I was thinking Form 8832 is the one, but I am confused when I get to question #3 since this entity is technically owned by more than one individual.

Purely answering the 80% vs 90% leverage question, in most cases it's better to reach for that 20% down.

Cost Segregation 101 Author: Sean GrahamHappy to answer questions :)