That would be the absolute limit of my compassion.

I could ask them not to open the door, but I can't control their kids or guests.

I note that you asked specifically about “cash-flows”, which has multiple components each treated differently for tax purposes.In general, you can start with NOI, next you have debt service and cap ex, which can get you to cash-flows.The interest portion of your debt service is tax deductible (possible subject to limitations) and the principal portion is not because you get basis in the asset for the loan principal, which generates a depreciation deduction.Similarly, cap ex is generally not deductible currently but the expenditure is capitalized and depreciated, similar to the initial basis in the asset.In summary, you have cash and non-cash tax items that cause your taxable income to differ from your cash-flows and taxable income * tax rate determines your tax liability.

Because he was a very large man and was getting out of control, I ran back to the car, grabbed my small tape recorder, shoved it  under his nose (I'm only 5'2") and told him if he had anything to say to speak into this. 

I mean - if we are not able to take down such a portfolio, we are limited to one of individual assets, which are seemingly far and few between.

@Micah CookInvestors are looking for limited liability.

So keep an eye out for the leasing provision in your declaration (if any) because that is the controlling document.So to recap, if the declaration is silent on leasing, you’ll be able to rent unless the declaration is properly amended, or if the board adopts a rule/regulation restricting rentals.

I set my limit based on numbers and lose out on houses from time to time, but that's ok. 

The problem with this approach is you do not have any control over the auction. 

My question, due to limited cash we are only able to put 10% down on this property to close.