This Is a common concern for people doing a 1031 exchange.

You use the funds of others to fund the deal, you do the work with rehabbing, renting, and managing side of the deal and both you and the initial investor whom invested their funds split the profits 50/50.This is one common way it is done for fix and flip.

In my market, STR with pm, utilities, and furnishing costs is about on par with LTR without PM.  

In my experience, only about 75% of these huge closing credits can actually be utilized and the majority of that goes to egregious "upgrade" fees to the builder anyhow. 

In the Seattle market, condoizing costs around 15K (survey, site plan, recording fees, legal fees, HOA creation and coaching from lawyer, setting up utility sub-metering if required).

@Nubia SilvaFirst thing you need to look at is your condoDocuments and understand what is common area vs unitFor example a plumbing line that is a main that runs through the walls may be considered common area but if water is leaking around the drain in your unit then it could be your issue.First identify the leak which the condo association should be involved in when it’s unit to unit leak to get it reviewed to check where leak is from.

Sell a property with an existing low interest mortgage utilizing a mortgage wrap.

House hacking will build skills and equity while staying at home would (ideally) save more money (utilities, food, consumables).

A different/maybe possible way to go about it, is to find a plot with utilities on the outskirts of your town (may not be possible, I have no bearing on your local market), then buy a mini home.

But there are a lot of "main GPs" that either don't know there was scrutiny or figure since there seemed to be no major action, the SEC blessed the relationship (but didn't change the rules, so who knows when it will rear its head again).Enter the "Fund of Fund" model, which is more commonly truly a feeder Fund.