I believe you keep the reservations, but you must pay Evolve a fee for every reservation made while they were "managing" the property.

I believe part of their motivation is that they would have to cancel reservations to get the remaining work done. 

Retain some of the funds as a reserve. 

Leverage is not an asset when rates are high. 3) No talk of cash reserves - what happens if you have an emergency?

Having contingency plans and sufficient cash reserves is crucial for navigating unforeseen challenges.Hope this helps!

An investment should pay for itself and have enough left over to set aside for reserves.

We live out-of-state and they ended up draining our reserves and now we're stuck with a project that we can't afford to finish.

Leverage private lenders and seller financing to avoid draining cash reserves.

Only threat is that interest rates go up instead of down; however, the federal reserve has been very clear about rates going down and have already started lowering rates. 

@Justin JohnsonYou need money to get money (leverage) - having an fha mortgage did you put 3% down.Until you get 20%+ down it’s going to be more complex to get leverage and I would argue even if you could get leverage borrowing money with no reserves is a very bad idea