And if it's a high amount, would you be better off just using that as a downpayment and get a standard new investment loan?

I am happy with them, I think they bring up value to investors, still I believe many of their deals don't meet my standards ( do your own diligence and run your numbers!). 

I don't recommend throwing the baby out with the bath water, and definitely make sure you understand the nature of the Mentor you choose.BP is a great resource to meet some amazing people. 

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

The other thing could be tracking what you have had come up on the last 5-10 projects after closing, i.e. the water heater was at the end of life when we bought the last 6 out of the last 10 properties.

The best defense against rats entering your property is to seal off all entry points (holes, cracks in walls), remove food sources (dirty dishes, food left in trash cans), and water sources (like leaks). 

My principal/interest, escrow, and insurance is 1570, and my HOA is 306 and it includes water.

I ASSUME you’re talking $400+ in extra expenses for providing water, power, sewer, gas, internet, communal area cleaning, and exterior maintenance.

Maytag and Whirlpool are good imo.I personally also avoid ice makers and water dispensers.

The owner also needs to save for big ticket items that may need to be replaced every 10 or 20 years such as AC, hot water heater, furnace, roof.