This post is intriguing as I have never heard of Obie. 

One time, I sent a letter to an heir in Austin, and thier family ended up selling me a property they couldn’t maintain.

Just like you said at the end of your post. 

In the end, it is viewer’s choice to follow what they think is more reasonable.

You're first deal is never your "best deal", but is likely your "most important" deal if you continue to invest.

I would never own rental properties in my personal name.

We have fired owners in the past but never due to over communication.

All too often, at the end of 5 years -- that's not what happened.

For example, you might leave $10,000–$25,000 in the deal, end up with a $3,000 monthly payment, and only collect $3,000 (or slightly less) in rent.This applies to my local market and primarily to Class B or higher real estate.You’re better off finding a solid property that needs only light cosmetic work (e.g., paint, flooring, or perhaps a kitchen or bathroom remodel), buying it at a decent discount, and putting down at least 25%.

That said, in the scenario you described, I’d either end up homeless and broke or starving to death, lol, while sitting on $275K of equity.