The reason someone would not do this is why would someone want to lose $900,000? 

Thank you both so much for this information!

This will determine the type of experience you will have with your investment. 

This has helped me in the past when a unit has been damaged and/or small items are misplaced like silverware, pots/pans, etc.

This is assuming you passed the 750 hour rule and the 50% rule to qualify as a REPS

Suffolk, VA has a 4% population growth for the past 3 years What made you interested in investing in this type of deal?

This is a great place to learn and to connect with people so take advantage of all the great resources.

I joined BP after you posted this.

At this point in time unless he comes way down off of his invoice I don’t see any way around this getting ugly. 

As you venture to try and find what cities/areas to buy in might I suggest this resourcehttps://www.areavibes.com/This is a great website to get an over view/starting point for what the neighborhoods are like.