The syndicate ran out of cash reserves and doesn’t have enough to purchase the required replacement rate cap.Foreclosure/DIL/short sale may be the best option.  

It is not a requirement to invest in real estate, many people are successful starting without it and that was my point.

If you're now in Salt Lake City (or surrounding area), a house hack may not be the worst option, because you'll get favorable terms and require less down.

To me, there's no comparison when it comes to complexity and required involvement between the two.

That said, other states don't require premiums so investors' risk may vary. 

The bank required and ordered the appraisal for each home.Have you seen the first page to this thread? 

totally hear you, pre 2021 in knoxville was a totally different ball game. again depending on your goals and strategies, your expectations aren't unrealistic. some deals may require more of an investment to make the numbers work like one of my student rentals that was a full gut project and took nearly a year to complete yet it spits out 15% cash on cash returns annually and i purchased that late 2022. investing in general is a risky endeavor, it's all relative to ones own risk tolerance depending on their position. we try and make calculated risks and look to evaluate multiple exits before pulling the trigger, yet there is still some risk involved. maybe a reit or syndication is the way to go if you want to be in real estate yet don't want to take on the properties yourself. either way i'm happy to make some local connections. 

Asking is $200K, my relative (buyer) looking to put 20% down.He is pre-approved for the amount, lender has prepared both a conventional loan and a mass housing loan option for first time buyers.Would be purchasing as an owner occupied "primary residence", rates are decent under both options.Condo is currently rented, tenant lease expires the end of August - roughly 4 months.Lender says both loan programs require buyer to occupy the unit within 60 days, to qualify for first time buyer deals.Is there a way to get them to extend this to 120 days (4 months) until the tenant lease is up?

I also need to figure out how the cleaning fee works and other details like should their be a minimum night stay requirement.

But then there is this New Federal Law Requires LLC Disclosurehttps://www.forbes.com/sites/joshuastein/2021/02/18/new-fede...