There are many lawsuits filed against them, and they have failed to repay many past investors - I personally know of at least 20 people who are collectively owed millions. 

In short, getting the place restored was akin to remediating damage from a natural disaster.In the trash and belongings abandoned by the tenant, he also left the OM for his healthcare real estate endeavor, nasty-grams from the IRS about his personal taxes, and collections letters from several creditors after him.I got burned here and so did my property manager.

.--- Make sure seller at least collects & prorates November rent to you!

Collect people's contact info, share yours, and add them to your database/email list.

If a rental/lease contract is a legally binding document...enforced by collecting rent...or enforced by an eviction process if rent is not paid....then can there not be a document (legally binding) for a tenant to sign that would relinquish their rights as a squatter or due process of eviction...

There is really no risk of you losing your investment as long as it is insured and you do your job as a landlord … fill the property, collect rent, maintain it.  

Our partner lives in North Dakota, the STR is likely to be in Florida (I plan to shop after BPCon 2023) but we are planning for the LLC to be in CA due to their fee collection. 

Some will collect first, last, and a deposit equal to a month of rent.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

You'll add more value for a co-GP situation if you can raise and organize capital by leveraging the collective GP's track record as an apprentice.