For many it could be a decent strategy to invest their money back into their property.Its the same thing for doing a renovation.

Hopefully the deposit covers Jan rent, make sure you give them an itemized list of the money owed to you for any damages or unpaid rent. 

Has anyone saved money and closed with one of these new upstarts?

Why would someone buy now and make little money for the chance that the rates will adjust later?

Long story short, it has been over a year and the project remained incomplete and he walked away with the money.

. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.   

When investors invest their hard-earned money into a project, we expect the highest possible return.

Reading thru Vail Resorts annual report the other day and looks like they loose money. 

In total, including money lost from rent, legal fees, and repairs, the situation cost almost $30k.