We always encountered storage issue, that is the main reason for this shifting.

I'm thinking about what SEALs are taught about shark encounters:  Don't swim away. 

This will prevent forfeiture of those funds in the unlikely event that you or your company encounter legal issues.?

I would love to start a conversation of people sharing stories of mistakes they have made or problems they have encountered in deals they have done and how they have learned from them. 

I cannot even begin to tell you how many crazy scenarios I have encountered but hiring a vendor to handle it was the PM's job.

What were the drawbacks you encountered?

I've not encountered a HML that requests Personal and/or Business Tax returns or W2s - that's why they're going to a HML.  

(Though I will say on the flip side, some A/B area tenants are also "high maintenance" and expect more for their higher rents, but I've also encountered some of that in C areas so it's by no means an absolute.)You will have to pay a little more for better area properties, but if you're managing from a distance I think it will be a lot easier.Also make sure to pick your on-the-ground team, handymen and repair people, carefully as they'll be your "face" to the tenants if you're managing from afar.Finally, you're not the first person I've encountered through BP who's from NYC; I know at least one more (@Jared Gettinger) in a similar situation, and he's actually come up to our local RI investor group (RIREIG) a few times.

May I ask what "issues" you encountered with your first condo flips?

Hey @Sergio Bofill -- I've encountered a similar issue before.