One of the biggest issues is probably borrower default—whether due to mismanagement, market downturns, or unforeseen circumstances, lenders can end up in long, costly recovery processes.

There are several other issues (undisclosed maintenance markup fees, excessive charges to our account, significant reductions to agreed rent without communication, etc).

You will probably run into some issues and need to budget for that.You budgeted 5k for unforeseen expenses on a 4000sft home.

If there are any legal issues that I have to worry about etc. 

@Rachel Jane a lot of issues here to consider:1) Does the condo association even allow rentals?

 My concern regarding an ongoing issue with my Stessa account.

Hiring someone to do the work will likely cost too much (I would charge a small fortune, it's an incredible amount of work) and doing things as cheaply as possible will bite you in the *** later when you start having issues with your own shoddy work and/or materials.

But if this company Tardus was selling these notes and getting comp .. they are going to have issues if they are not licensed RAs or broker dealers..

The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc. 

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.