There is a potential scenario where an outside rescue fund (marketed as preferred equity to new investors) could come into play in many of the projects that appear to be performing especially if they have been paying the pref (via a reserve account stockpiled by over raising funds in the beginning).

Sorry to be the bearer of bad news, but when you look at the facts of what money was invested in and how it was handled, it leaves little to hope for.The only potential to get anything back is a potential SEC / FBI investigation to see if any fraud was at play where other assets of Norada is possibly garnished to pay back investors.

But if its a strong offer just play it out. 

It was pretty interesting watching this all play out..

People like new homes- It is easier for me to identify with which homes will be more marketable in the future yearsCons- Cash flow usually isn't as good (which is ok with me, because it is always an equity play for us).  

Likely would want to close on 11/28 at the latest to play it safe as the notice takes affect the next day, not the day it was served. 

Then divide that cost by the amount of time between now and then and that's how much you should be putting aside for Capex.For general maintenance, the age and condition of the building will play into that.

BUT, it's an appreciation play. 

Just be ready for the ride...it’s not always smooth sailing, but if you play it right, those jitters can turn into some seriously sweet returns.And if you do end up jumping on a short-term rental in Tampa Bay, just pick up the phone and let's dig into it.

This property has been a cashflow play, but ideally my next small multi-family (2-4 units) would be similar to what you are looking for in terms of a higher-priced appreciation play.