The financial performance of these investments often are disappointing because of excess repair costs and liquidity issues (ability to sell for the amount you paid for it). 

The ability to leverage the investment is one of the main advantages to real estate, but you're trying to be rid of that as soon as possible.

He handles our Cost Segregation Studies and has bee instrumental in our ability to achieve the portfolio size we currently have. 

Since your main concern is your appliances, are the other interior elements (flooring, kitchen cabinets and counters, etc) covered by the HOA then?

A Promissory note is unsecured debt so there is no ability to foreclose. 

The biggest obstacle is usually your ability to qualify for the loan, which is a function of DTI.

Hey, @Joshua Walker.I’m a newbie but, I like to respond to situations like yours because it makes me call on and employ the knowledge I’ve attained about REI, and the skills and abilities I’ll need to employ to close a deal myself.

Today everything is managed in-house which allows for about a 15% margin, immediate cost reduction when acquiring an asset, and the ability to execute the plan with more certainty. 

You can fix and refi to recapture on a portion of the money put down and roll into other assets or leverage your skills with others to target properties where maybe they can brings funds while you provide credit or ability to do the ground work.Originally posted by @Susan Ferris:Hi, We have purchased 2 rental properties in Illinois and have put 25% down on each.

Contacted the property manager because bylaws state damage from a common element (the roof in this case) makes the HOA responsible for repair.