That is how tragic this 12-year run of financial fraud appears to be as explained in this report on the Laguna Niguel, California based Norada Capital Management.

If it takes you two months two find a tenant willing to pay $1,700, then you'll still basically break even in the long run - the net to you is the same. 

Quote from @Damon Silver: We have a 4/2 attached duplex up and running in an Oregon college town. 

Even if you are a US Citizen and live abroad you may run into issues as you are not currently living/working in the US. 

If your goal is to scale, I would suggest running your numbers with property management costs included from the start.Also, if you plan on adding more properties soon, I would avoid anything that needs too much renovation upfront.

Second, run the numbers and compare your rentals to the market.

I own an interest in Inspire on 22nd as well as another Versity/Crew property (Wolf Run) and have had the same experience as you.Your Shadowglen property now makes the 10th Versity/Crew property in some kind of similar distress.

Sec. 8 works well in some markets and it can be a premium and successful for locals who own a bunch of them and run them with an iron fist..

Also, consider financing strategies that allow you to maximize leverage instead of tying up all your HELOC funds in one deal.If you want to run numbers on different financing options, let me know.

Have you thought about OOS investing where the numbers make more sense and you don't have to run a negative?