Not surprising a deal in the same complex found you or vice versa.

Had some unexpected expenses come up before finding a property (vet bills & unexpected tax bill due) which took up about $25k of the heloc).As we all know the market was crazy early last year, but I found a property which I saw great potential in with some improvements needed.

I am not surprised that the CC&Rs themselves do not provide for dissolution.  

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Or only switch the allocation as rooms are finished, lose some of the potential increased rates, but have some happy, surprised guests when they get an updated room after paying for an older one.I hope that makes sense.

This asset was slightly underperforming before Covid anyway, so it didn't come as a huge surprise.

I am surprised that Livonia has very few rentals compared to Ann Arbor or Ypsilanti,at this time there are only a few rentals to compare and they seem to range between 1150 and 1650. 

The exact charges may be a little different in the end, but it avoids being surprised when they get a $20 bill for cleaning under a stove or charged $25 for a missing fire extinguisher. 

Guys like this are very polished, they have done an excellent job steering you in the direction they want with their “free” content just to hit you at the end with a $4,000 surprise.

Do you have the money to cover any shortages should you not be able to get the place rented, if there are unexpected costs, etc.