Wow yes I feel like I'm hearing first-hand how wrong it could go, but I have a few questions and concerns if my standards will follow suit of the unlucky investors:-For sure I would want to work with Class A or B rentals (I had a property 5 min from my home and the tenant was HORRIBLE, so a reliable renter is CRUCIAL), but not sure if my price range would find such a tenant.

Banks, on the other hand, can take weeks, if not months, to approve and fund a loan.Another big plus is the flexibility in qualifications.

Totally understandable that you may have time to commit to it, as it is extremely hands own.

I'm considering selling the property to have cash to look for a 2-4 unit on-hand.

Comparing this to oil or timber rights is comparing apples to hand grenades. 

I’m totally hands off. 

<<< Of course that is what I am trying to tell you but don't confuse 'advantage' with 'different' -- if your goal to is maximize your return than you should be more hands on; if your goal is more to save time and hassle then let someone else do it all for you; in the end you get what you put in. 

On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?

If for some reason I have a weekend open in season I will reach out to my handful of repeat guests and offer 10% discount.

Clothing- buy at the second hand store.