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We built two homes side by side on infill lots with a lot value of $20k each and hard construction costs of $196k (builder’s fee not included).

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

Talk to a competent CPA.BTW, the real value is not derived from saving a management fee. 

(I am looking for private lenders who don't charge interest but rather take a portion of the profit.)I emailed the support desk for a refund. 

Let's talk,DanIve actually been looking into buying a condo myself as an investment, I have a few rules, needs to be with both good hoa management & relatively cheap fee (bellow $600 a month) needs to be in area where I’m not competing against other new construction apartments, needs to be an area where even townhomes are so expensive you are not competing, I.e. upper nw, nova, Bethesda etc. needs to be 1990’s or newer in most cases.

The new buyer puts down 10% as the option fee, ($50,000 fee to our buyer) in this case, and we make the rate 10% to the new buyer for the monthly payment. 

Buying a large new build home can also work well as a house hack as you can charge a premium rent, and generally most bedrooms built now a days have en suites (at least in my market).  

I only charge $500.

By the time it was all over, the court fees, attorney fees ate up the entire EMD and then some --- this seller never intended to sell the house.