A less then full investigation may result in one thinking that the house and or the house and tennis court lots were what was being sold.As I later found out, a newbie tax lien investor thought they were getting a great bargain by outbidding other misinformed investors and paying the back taxes, legal fees, and an additional $34,000 (overage) which the county forwarded to me.  

You don't have short-term maturity risk, and you don't have prepayment penalty risk (just has a 1% exit fee). 

I will mention that a hot tub could really increase the frequency of bookings. 

Steps to takeReview the contract: Understand the terms of the agreement, including the notice period and any termination fees.

It's also not fool proof, but is a good start to get a feeing for different areas 

I have written about it before in long past. 2) Yes, no PM and no tenant placement fee consideration.

We already paid them a pretty sizeable entry fee ($30k) to cover some of their equity and debt in another project.

For that SMALL landlord, turnover/vacancy is VERY expensive because it takes them longer to prep and fill the vacancy and they are also paying the PM a fee for tenant placement whereas the large landlord is using their staff who is being paid whether they handle a turnover or not.

However, there are also some downsides to consider, such as higher fees/interest rate.

I'm not satisfied with not filing the rental in an LLC simply because it's more simple and might cost me an additional filing fee .