The economics of that area aren't real great.. mostly older people and not a lot of opportunity for young people with ambition. 

They aren't doing it to help syndicate investors.I don't know anything about this deal other than what I've read here, so take everything I say with a grain of salt...but this plan appears to kick the can for a year. 

Quote from @Joel Oh:  Yes, but you aren't selling a car.

Unethical practices: There are reports of agents coaching buyers to avoid properties where commissions aren't pre-set by sellers.

Our water bill is below 150/month and even below 100 some months when it's not winter and tenants aren't letting the faucets drip, but overall it's not a nuisance. 

Some carriers don't ask but you should make sure that you're not indicating (in the policy application that is typically e-signed) that you aren't using your property for student housing if you are.  

Therefor, they aren't selling at that discount and instead just collecting monthly payments.

Too bad, tenants aren't saying a thing for fear of paying.

There aren't many "short-term, get rich quick" type investment options in SoCal today. 

. - RentReady repairs & vacancies between tenants can blow any projected ROIs.2) Warren Buffet - go where others aren't.