Biggest issue?  

With investment properties, most lenders I work with prefer to have an address to work with in order to provide a "soft" quote, which does not include a hit to your credit.

My issue is, it's been almost 3 months and I haven't be able to get good tenant applicants.

The family purchased a lakefront property in a nice area three years ago but then ran into a series of issues, and have abandoned the place because of them.They are hoping the bank allows a short sale (asking for roughly $20,000 under what is owed)Here's what's made them so unhappy:Anytime they used the laundry it was dumping into a dry well, which would back up into the house forcing them to take their laundry to a laundromat instead!!

Would that be, for example, if the PM says, "I manage a duplex for John Smith in Turlock," then I call John as a reference, ask John a few questions, and then ask John the address of his duplex so I can later look it up on the county website and verify if he is the owner?

The main issue I have is contemplating the baloon payment at the end of the 2nd year and refinancing the remainder with a bank...how can I compute that into calculating the IRR?

All and any of our questions moving forward were addressed via email.

Traveling to other states isn’t an issue for me. 

If you want to message me your email address, I would be more than happy to send you what I have. 

@Kyler Tarr it's good you haven't had an issue but you also mentioned your property has some knob & tube.