It'd be great to hear a story or example of you took advantage of the type of market we're in now if you'd be willing to share (or how your think someone might do that).  

Example - say you had a kitchen fire that caused $30,000 in damage and the kitchen is older and not part of the house you fixed up.

As a noob, I have no idea how much REI projects cost for say new paint, new floor, and cosmetics... just as an example.

Setup time to speak to a few of them to learn more about their model and get a feel for how they answer your questions, how they treat you during the call.Be prepared to share your net worth, income, and investment history with them if you want move forward.For the ones you like (after speaking with them), maybe have them send you example investor communications on prior deals so you can see how they communicate to keep investors informed.Once you've narrowed it down you'll want to further evaluate the sponsor Track record, references, etc.Have them present a past deal in detail to try to understand their assumptions, are they conservative, etc.You can use the BP Tenant Screening tool to get criminal and credit history.

For example Washtenaw county it is customary to prorate taxes to be paid in advance, while in neighboring Jackson county it is customary to prorate taxes to be paid in arrears.And that is just one small example.

I ask because the better business bureau does have examples where unhappy participants were not refunded.

Anne Arundel is a fine example , its a great county in some areas and rough in others .

For example, receptacles in a family room that are intended to serve home entertainment equipment or home office equipment may be placed in corners, may be grouped, or may be placed in a convenient location.

For example any pets may result in eviction etc. because a lot of people interpret "no pets" as pet restrictions for pit-bulls etc. even though this is not the case, because many who self manage do change their policy especially if their unit has been on the market for a long time.

Documentation being a perfect example.