So far I am sitting in tax filing, appraisal, and bank timeout waiting for everything to catch up but in 30 months I went from 3% to 25% ownership.

The original rent is $2,250/month, fell behind 4 months in Jan 2019, so the $3,000 is catch up on the past due rent.

I was looking for the catch and I could not find it.

Its a bit of a catch 22 at the moment. 

This also gives you not only a realtor's eye who will be thinking about resale values and quality of work from a renter/buyers perspective, but also someone totally independent of the work being done (contractors) and management.

Thanks for catching my mistake in including the wrong rates and terms for the HML.Assumption used for calc:  in light of current state of affairs, though I have spoken to several HM lenders, I cannot get a quote as operations are on hold. 

Exactly what I was thinking.Once tenants catch wind that evictions are OUTLAWED, good luck to landlords

15 miles from downtown any direction is completely rural, but you would be close enough to keep an eye on any rentals you pick up. 

The sewer line was at least 90 years old and was in need of replacement all the way to the catch basin in the middle of the street.

But Baltimore for sure is the highest cash flow I work with, and I'm with turnkeys and BRRRRkeys (combines the BRRRR and turnkey methods- they company still does the work but you keep the forced appreciation from the rehab, catch is you're financing the work upfront before you cash-out refi it).