That's what I did.I'm not saying don't go for condos, but really do your due diligence on the HOA to make sure they are in decent shape so you don't get hit with bills later on. 

Quote from @Bill B.: Because the cost of roofs, ac units, water heaters and so on don’t care if you collect $600/mo in rent or $3,000/mo.  

I left numerous contact me letters to speak to the owner to discuss options and potentially cash for keys.

However, she claims she can’t afford the electric bill and refuses to keep the heater on continuously.

Numerous ways assets can, legally and illegally be placed beyond the reach of judgement creditors. 

Quote from @Bill B.: When you said Las Vegas did you mean North Las Vegas or some other suburb?

It seems these inevitably run into problems as the investment projections are not met, loses begin to pile up, SEC compliance issues are ignored, and numerous legal actions are instituted against the sponsor.   

Search BP for ADU appraisals to encounter numerous examples.

Ask local materials distributors which contractors pay their billing on time, and who order materials consistently.Go to some local REI meetups and ask for referrals.Look at local jobsite and take note of truck signage.Of course verify their licensing, here's a link https://lni.wa.gov/licensing-permits/contractors/hiring-a-co...

Put the capital in a low-risk instrument (CD, t-bill) that will preserve as much capital as possible even while making your mandatory (5%?)