Hey KyleWhat is the purchase price of the condo as well as the association fees.

I sort of figured that he had to do what ever he had to do if he got in over his head.

First of all the HOA fees eat up a lot of the cash flow, oftentimes down to a non-acceptable cash-on-cash return, making finding condos that do cash flow appropriately more difficult to find...and that's until the HOA doesn't up the fees.Second of all, so many of the condo associations here have "no renting the first year" or "no renting for the first two years" as restrictions that are not always disclosed in the MLS.

My accountant is Jeffrey Stoller from Goodwich Stoller and Associates.

Commercial lenders are not going to be swayed by forecasts of 5% year-over-year inflation, they will want to know the property still holds its head above water if there is a 20% correction in property values or a 5-10% increase in vacancy.

We don't have the sub-prime sword hanging over our head this time but the market fundamentals will drive the correction.What am I basing this on?

I gave him the keys on December 13th because I didn't want to renew the lease and I was heading to Florida.

@Eric Belgau Thanks for the heads up on the soil.

So in my head, it's kind of like "4 rental properties in four local subdivisions, or one flip maybe two or three times a year."

I've just realized there are many options and innovative ideas out there, but definitely haven't ruled it out, thanks in part to the reasons you listed.For some reason, in my head at least, buying an income property even with the use of a property manager, seems more intensive than HML, Syndication, and other "passive" real estate investing ideas.