Plan for 10% vacancy, maintenance, higher taxes, insurance, cap ex to renovate, reserves, management fee 10%, utilities unless individual metered.

well rounded individual !! 

With the Checkbook IRA LLC, the IRA itself is at the back end and simply owns an IRA for which you can have signing authority and operate out of a bank account of your choosing.Again, if the IRA will have equity in the flip, then the IRA is engaging in a trade or business activity as opposed to passive investments such as hard money lending or rental income.  

Owner gets back and say I never authorized that I won't pay it. then moves to another PM... this is a very common occurance and veteran PM companies then learn to have a reserve in their trust account to accommodate this.Maybe that's what your talking about.

You don't want the reputation of the DEA or local authorities visiting your apt every weekend.

Maybe it depends on the individual asset mgr....sometimes they don't have a value and just bid the FJ, and sometimes they bid a reasonable number. 

But like others have said sometimes there are savvy or affluent individuals who are looking to liquidate for one reason or another. 

I know this is vague and subject to individual deals but some examples and explanations would be awesome.  

You may require the tenant to request a report on her/himself and authorize the police to share the results with you.    

I would say the best advice is to listen to those who have invested TK to share their experiences with individual providers and what they did or did not like about the TK purchase process.