It ends in a $395M annual loss and entire brand tarnished by political spin.

Quote from @Christian Pichardo: Quote from @Caleb Brown: Should you cut your losses and move on?

One thing I can assure you, there isn't an asset class in the world that would have me comfortable at 100% leverage.Your money on the sidelines is great in principal but in reality it will be put to work covering the net loss on the properties you buy as you will be overleveraged and won't be able to cover your operating expenses with the rent.

Even if you rent at a break even or slight loss, if you could have 3 years of rental income offsetting your mortgage while realizing 3-6% appreciation, could be worth it, especially if you think appreciating for this area will exceed national averages.

Buckle up, and prepare for total loss, or an additional capital call or two in 2025.

Or buy a thermal camera to check for heat losses, they have gotten really cheap. 

I then recoup any losses in the resale and down payment forfeiture.

WHEN (yes I mean WHEN not if because over 30+yrs it happens many times) when the market has a drop for whatever reason be it a bad election, war tensions, someone sneezed on there terminal and HFT's went bazerk selling, whatever the cause, WHEN the market drops you get a "Margin CALL" and next thing ya know there not just selling off those leveraged positions BUT there selling em off in the drop, at the lowest price, amplifying losses, all those returns going out the window in moments.     

Equity growth is the priority with mitigating any cash flow loss or optimizing the property for superior cash flow.

Most of the failures I’ve seen when investors attempt to “scale” a non scalable business result in only moderate losses and temporary setbacks.