So this investor supposedly went bankrupt and they are auctioning off a bunch of his properties here in Virginia.  

The way things are going the HOA will be bankrupt if we don't increase assessments and a bankruptcy will decrease the market value of units. 

In 2009 FEMA was bankrupt and was extending the flood insurance coverage by a nation emergency order, monthly. 

Usually it's because they have bad credit or went bankrupt.

A bankrupt HOA is no laughing matter!

Well my rental income is in the stock market, and the market is down because Puerto Rico is bankrupt and there is war in the Ukraine, so to take those funds out, I have to sell at a loss.I need to replace the 25 year old roof on my building costing me $7000, but the market is down because an ISIS suicide bomber hit Turkey!!!!!

Cash flow is the only metric worth looking to build wealth  Markets will go up, markets will go down, but if your cash flow is strong you can deal with any storm, while Bob goes bankrupt. 

One bad deal in OC can bankrupt a novice investor.2) Lower cost of advertising - Advertising, including Google AdWords, in OC is very expensive.  

We can "afford" it in the sense that I won't go bankrupt paying the mortgage, but we can kiss our "save cash to buy with cash" strategy goodbye.

You need things in writing, it's not about trusting a partner, it's about you or them dying, ending up in a hospital, nursing home, getting a divorce, going bankrupt, everyone needs to be protected.