Its the less aggressive model but it was programed into me from a young age, keep your business risk separate from the things that you need to live (home, car, food, etc.). 

When you see what people do with old space heaters, guards and safety removed, plugging in several in one overloaded extension cors,... you can see where the concern is coming from.

Their previous lease includes a portion of storage in the basement with laundry access(also in basement).Current set up: tenant occupies floor #2 with separate access to the basement for their laundry and storage.Future plan: reno basement and remove storage/laundry access for tenant.

The key rules are as follows:1) Syndicator MUST have significant skin in the game, including 10% of the money raised in the first deal, 8% of the second, and 3% of the third2) The only fees allowed are 5% of revenue for property / asset management, which is enough to put food on the table, but not incentivize people to just buy, buy, buy3) The only compensation is 20% of the profit (less on the first 2 deals)4) Rapid acquisition is not allowed. 5% Is minus all operating cost correct ? 

Interesting though, they have removed mention of the offering from their site as of yesterday

I recently completed a major renovation on my property financed through a Fannie Mae HomeStyle Renovation loan, and I'm now looking into options for removing Private Mortgage Insurance (PMI).

If you want to be completely self-sufficient, you're willing to build an Earthbag home or another building that can be earthquake proofed but can still be run without public utilities, you can spend a ton of money on a well and can have that well water processed to remove contaminated mine crap, you have a great off-road vehicle and you can figure out how to deal with the flooding without redirecting that water onto someone else's land then you can definitely live there.If it's an Investment you're after, give that up.

Ear plugs, eye masks, toothbrush/toothpaste, makeup removers, etc.

After one year of occupancy, refinancing into a conventional loan can remove PMI if you achieve 20% equity through appreciation or principal paydown.

Quote from @Michell Chase: It isn't a large amount but my concern is that if I remove the tenant in July I have no deposit in the event that there are damages to the unit.