@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?

I'd be interested in hearing from condo investors about why this real estate product makes sense even with the low COC returns and HOA fees that cannot be influenced?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

They instead lack the skill to do a proper bid.

Real Estate Rookie by Ashely Kehr is all about taking action and getting your first property in 90 days: https://store.biggerpockets.com/products/real-estate-rookie

With that said, choosing your bank based on customer service relationships and business credit products should be a priority. if you’re looking for a bank that offers great service and lower wire fees, I’d suggest starting with NFCU.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

There ya go, that's productive vengeance. 

Like Jake Baker suggested, keep good records and have a dedicated bank account for your property, properly separating personal and business expenses.

If the Warranty Deed has been properly recorded, the court deems that, as "constructive notice".