You decide to "run the numbers".

Lot rents at $250 and running at a 40% expense ratio produces only $16k/year net  Is it worth it for the massive amount of work this place will require?

Checks from my normal checking account can have the payment stopped if I run into trouble with a contractor for example.  

, but in the long run when many of those people with massive labor paid mortgages and multiple labor paid car payments are working blindly forever to pay are looking at you saying "oh he must have gotten lucky somehow", youll know the real reason, that you sacrificed the shiny stuff and made your money work for you.  

Now you could always buy class C assets that would well exceed that 1% rule, but I also believe it takes a special type of manager to run that sort of portfolio.

If you read books and take course to learn how to run a successful remodeling or construction company, they are often the exact opposite principles of what I read in blogs on this site and others about hiring a contractor.  

Looking mostly at Flushing, Fenton and Birch run.

My insight is to run your numbers very carefully, multiply your anticipated annual expenses by 1.5, and don't forget capex.

Usually they (condo associations) are running to get those past fees.

I hope to run in members at the meet up and learn a whole lot.I quite weary about a real estates turn down again.