He ran the place himself, collecting the rent weekly.

Congratulations, you have found one of the most valuable free resources on the internet for real estate investors new and old.

What We Learned–By The Numbers Over the course of a two-week period in November 2011, 50 participating agents made 6,264 phone-based cold calls, collectively.

In summary, the hardest part was literally 'pulling the trigger' and I've learned not to worry over a few extra thousand when buying a home because in the long run, paying a few thousand more to win a bid may net me 10s of thousands (long term) in equity/rent collection. 

You have found one of the most valuable free resources on the internet for real estate investors new and old.

Can anyone offer insight, resources, or educational material to get me up to speed on what it is?

Most HOAs are required to get a professional financial audit and file a tax return each year and then there may be legal fees to collect back dues from people who aren't paying.There is a LOT that goes on behind the scenes in an HOA. 

But since I owned multiple units that were collecting income I could go through the eviction process without any repercussions of my personal bank account.  

He plans to invest in about 30 apartment units this year.Since I have a team of realtors and property managers in place and act also as his partner this won't require much or any administrative work (e.g. collecting rents, finding new tenants, etc.) on his behalf.So if you want to know more about real estate investment options from someone who has been in the real estate business in Costa Rica for 12 years now, don't hesitate to chat with me via Skype, WhatsApp or Phone:Cheers, Tobias

Second, as someone said, you should have checked on rental prices and comps before buying since optimistically with construction costs of 100 per sq ft, a 2k sq ft multifamily is easily going to be in the 200-250k construction costs including permits, fees etcAt that level, you would need to collect 2k in rent a month just  break even on the construction + costs.