Well, they forfeit their deposit and you simply rinse and repeat the process.Now... if it all goes to pot and they still can't pull the trigger, now you're left with a decision.

It is unfortunate since we tend to fix homes up very nice and the poor responsibility for these class of rentals pushes out folks like us who want to provide a very nice home.I had looked at some large deals for batches of townhomes there in Columbus but just wasn't confident enough with the market to pull the trigger. 

The best teacher is experience so you will never be as comfortable with any deal until you pull the trigger on the first one.

Sorry I didn't see your massages till today.

The condo has ~80-100K of equity so hope to build the knowledge to put it to use.I look forward to getting educated and finally pulling the trigger on property #2!

Again, in my state that would trigger an excise tax.3) Get an 8% private money loan.

I fly back and forth myself between The Netherlands and USA, and haven't pulled the trigger yet on purchasing real estate in The Netherlands for various reasons (i.e. financing is hard if you have international income, renters have squatters rights, Dutch market is increasing slower than rate of inflation, stronger laws on AirBNBing and renting out property, etc.).It's a little different in The Netherlands than in the USA when it comes turn to meeting.

And as far as we know, 1031s are not an audit trigger.  

I am ready to pull the trigger (not withstanding the philosophical discussion of turnkey versus not, I have decided to atleast start with one turnkey out of state and see how it pans out) but am being constrained by lack of inventory.

Assuming you are dude with a 9-5, a dream, and the balls to pull the trigger on a 4plex don't waist your time and money with an LLC.