As it relates to a PM company to me a PM company with bad reviews ( which 99% come from tenants) is a sign that they are doing their job and kicking dead beats out of houses when needed. 

If your area has public services that traditionally are in a position to put a lien on a property, then it seems to me that this due diligence should have been performed.On the other hand, if it's some private water company with no real public ties whatsoever and nobody ever searched their records for bits and pieces, then I could be dead off here.I'm also not saying you should spend you all your capital on litigation.

I have funded i bet no less than 200 deals in the last 10 year that were from Aussies selling their home that is now a full reno.. many of them in their superannuation funds. ( US version of IRA )  just the dirty little secrets most wont talk about. propertyinvesting.com.auJust posted on there last week.It's completely dead mate.Such a shame.SomerSoft was big and they shut down also and re-started propertychat which is now huge lolBut literally no talk about investing in the US.Aussie's got burnt bad so it makes sense unfortunately Yep, $100,000 in Super for example.Property agreed cost $50,000 but provider put $100,000 on PA.Gave the $50,000 back to Aussie investor so they can cycle money "legally" out of Super.Was a nice little scam that suited many Aussie folks and property sellers in the US.Even tho the property they bought in the US was $#%@ but I guess that was the cost of getting money out of the Super prior to retirement age.

She’s using “potential profit” from deals that were actually dead but not moved to “dead” section yet.

The one thing you don't want to have to do is drag someone around with dead weight and them absolutely hate everything about RE, and it sounds like your spouse is at the beginning stages of RE!

Really January through early March are the only dead times in Branson.  

Ladd has also found 14 dead bodies on his farm" Wake up and smell the decay. 

Obviously, I don't know anything about your finances, so for all I know, you may have a few million in the bank, and this project is just a fun experiment that wouldn't even be a drop in the bucket if it all turns south...but, regardless, you'll want to model out what would happen if this project crashes and burns...As you may know, managing a rental in a D to F area (or even a C area) is usually not recommended (for many reasons), and funding a rehab with credit cards is also usually not recommended (again, for many reasons). ...even highly experienced investors often won't touch anything lower than C grade because of all the difficulties of managing and re-selling them...If you're dead set on rehabbing the place and keeping it, I'd strongly suggest studying up thoroughly on the local rental market and tenant pool (e.g.; rent medians and lower and upper bounds, typical days on market before securing a tenant, local vacancy rates, tenants' typical income, education level, employment opportunities, credit, and rental history).

IMHO arbitrage is all but dead, as a general strategy. 

Also consider equity trapped in your house is dead equity.