They also said that they had difficulty convincing the people that it wasn't a scam.

By far my biggest concern is the difficulty of managing properties from such a l-o-n-g distance.

I haven't seen many deals that have had difficulty raising funds, and a $100K investment isn't really considered a big deal in the program.2.

What kinds of difficulties will we face if we purchase and rent the property despite this obstacle?

How difficult is it to find deals?

I would avoid this idea and look for ways to make it simpler.What is stopping him from staying in the property for longer while the renovation is 'nearing completion'He benefits as hes staying in a property likely for free.What is to stop him from saying that he should be the tenant after the renovation is completed - He will likely ask for a low rent with difficulties to increase rent in the future.It seems like you have the money and he has the renovation experience.I would just take your money, buy a property, and hire a contractor.No need to make it more complicated with partnerships.

Was acquiring the LOMA easy or difficult? (I

As far as finding a good property manager goes that is difficult!  I

@Kyle Karges I've personally had difficulty managing in Phoenix as the rents commanded on airbnb are lower than I have seen in most of the US.

While not necessary for the deal, it could provide insight into difficulty with tenants, difficulty placing tenants, high maintenance, etc.