Even with crazy high rents, when you have to get into a property for 1mil, it's just hard for the returns to out pace the cost of capital, especially when you factor in all the other costs.The oddity with the last observation is that without capabilities these markets also tend to be the biggest challenge from an execution standpoint for someone just starting out. 

I have spoke with two mortgage brokers so far and they do not deal with REI and that has been somewhat challenging. 

It puts me in a much stronger position if any legal challenge ever arises, though some might argue that it's overkill.

@Dennis Dahlberg hahahaha not offended at all, I'm a big boy and can handle a lack of sugarcoat.

Challenges?

I get great tax write offs, I live off the cash flow and I invest because I love the process and the challenges of finding great off market properties.Your mileage may vary.

Challenges?

Where the property owner is not involved in the renovation or construction it could be handled one way (premises liability policy). 

Challenges?

I let his family from out of town stay in the condo to clean it out and handle affairs until 10/12/18.