With this many people and animals in the house it may cost me loads of money.Sorry Im venting a little bit - people like this make me lose more faith in society - I've always been the type to do things on a handshake and a mans/womans word means something - I've treated people with respect and gotten it back - it doesnt appear to be a 2 way street with this guy. 

Do we have faith in them?

Speaking of @Jay Hinrichs selling off assets, it seems to be that since he is still trading notes, he still has faith in the RE space. 

A small value add after purchase will help keep tenants and show good faith. 

Any property that has reached that financial situation is a liability and has reached it's sale point.I would be looking to sell and reinvest in income producing properties.The exception would be faith investors that rely entirely on appreciation and have the deep pockets to carry a negative income investment property.

It takes constant follow up, diligence and overall intestinal fortitude, let alone a lot of faith in a stranger with your Home Depot account. 

So you are essentially looking at 1500 a unit for a 3bd- 1200 a year for insurance seems low, to be honest- unless you got a quote for this prop 2160 a year seems low for taxes 1200 for lawn/snow a year is high... this winter was bad, and it also depends on if you have a driveway etc or just street parking Closing costs- you can get a good faith estimate from your lender- they may be a bit higher Also, you want to consider if you would be inheriting tenants.. or if they are way below market rent, 

I get nervous about any guarantees in this space because they could offer a terrible deal or something that doesn't fit what you need, and claim to have fulfilled their obligation while never really offering in good faith.

M2M on the other hand provides real control as opposed to having faith in tenants.

Relying on appreciation is faith investing.