Purchase price: $645,000 Cash invested: $516,000 80% cash purchase.2,437 sq ft Duplex, with 3b 2b for the front unit (1331), 4b 2b for the back unit (1333).   

Who will drive by to see if the lawn is cared for, or if there are three unauthorized dogs in the back yard?

The prices in the markets we looked at i.e. troy, Schenectady and Albany all had great prices and rents were inline but kept coming back to "what if the tenant doesn't pay". 

Your responsibility is the DP, and the CF accumulates to pay you back the full amount of the DP. 

A contractor left a back door open one day and someone walked into the house and stole $2000 worth of tools.

Draws are almost always held back until you reach certain points in the project or that work is completed.

Than learn with that safety net until your ready to take things back over to self-manage again. 

A subdivision of nice $400k homes was built across the street back around 2004.

sounds like someone got a nasty gram.. we see this with the syndicators that are called out then threaten the investor who called them out.. or anyone else companing about a service only to have the company either threaten or tell them if you take this down or retract we will give you your money back.. kind of like landlords lying about how great their dead beat tenant is to just get them to move on to the next landlord. 

Hi @Drew Sygit, thanks for your response.You shared some good insight, particularly about the classes of tenants that would push back against the strategy I proposed originally.