If anyone spends any time in Europe, barely any jurisdiction impose these limitations on homeowners/builders yet people live in much smaller spaces... and very happily.

We did not want to spend the time trying to find somewhere new to buy while we were packing and hoping that it would still sell.

I literally spend less than 5 hours on it every month, that includes calls to the manager.It's been a good cash flowing property for me over the years and now I am looking to sell!

A common bit of advice seen on this site is, "Don't spend $20K on a mentoring program when you could spend that money on your first deal and you'll learn much more."

You lose all of the control and these are long term investments - but in my experience the returns match what I had on the active real estate and I am hiring professionals to manage the assets.  

So, realistically, how much time do you expect a PMC to spend getting multiple bids?

My regret is not buying one in Hawaii or somewhere else where my family could spend some vacation time.

GC in my area cost 10% of the total and I would say that is worth it for what they provide, but if you have the knowledge and willingness to be on the phone with subs (and spend a lot of time on site) you could save that by DIYing it.

Your investment is secured by the underlying property. preREO is a new, very creative and now proven format for local real estate investors to obtain control of a property before it goes to REO where everyone will have access to bid and drive up the price.

Owners who prioritize full control of their future profits or plan to sell soon may not find this appealing.