Hey @Tone Church Great question about the impound accounts.

HOA's are just one more governing board that can shut you down.Without knowing all of the above, I'm generally a fan of your first deal being small and manageable (sounds like this is) so you can learn the game while minimizing downside risk.  

Target the communities you enjoy being apart of (church, pickleball, work, ect) to find people with similar interest/values.Hope this helps, feel free to shoot me a message for any additional Qs!

@Konstantinos Zaferatos I go to church with PJ - solid guy.

I was able to shut that down.

Your class of 20’s tenants doesnt know how to turn out a light or shut fridge door ...

I ended up shutting it down temporarily as I couldn't keep up with requests in combination with not being ready or able to vacate to allow guests in. 

However, like you said, everyone is feeling this gut check right now not just Civic or the other lenders who have officially shut their doors. 

I've done it before by giving the Tenant a written notice that the utility will be shut off on a particular date and they must set up their own accounts.

If they do their job effectively, and in the end, the vacation property does not cash flow or even come close to it, nor does any other properties in that market, it can be a logical conclusion that the market has shut their doors to new investors.