Also a performance bond (finish by date).

I've written a couple lengthy discussions of the fundamentals of the city.

Are they insured (possible bonded)? 

Thus they will be licensed bonded and insured. 

You should definitely look into legal action, but it's usually a lengthy process with no guarantee.

I've made a spreadsheet which combines data from these sources:https://www.rawson.co.za/transfer-cost-calculatorhttp://www.sars.gov.za/Tax-Rates/Income-Tax/Pages/...http://www.sars.gov.za/TaxTypes/PIT/Pages/Tax-on-r...http://www.sars.gov.za/TaxTypes/PIT/Pages/Examples...http://www.globalpropertyguide.com/Africa/South-Af...http://www.standardbank.co.za/standardbank/Persona...Rental income is added to any existing income you have, and any expenses incurred in trying to get that rental income are deductible, including the interest portion of the bond, excluding the costs of transfers and setting up the bond.I'm hoping I'm not calculating something correctly!

The relationships building process is lengthy and takes time and consistency and the track record.

It's definitely a team effort and we're grateful to have a solid team.Here's what happened near closing - Our bridge lender wanted to change the loan amount 2 days prior to closing (reducing it by $325K) which would require raising the additional amount and diluting existing investor equity - fortunately we were able to sell them on why this would create too much of a risk for us and them.Interest Rate Cap Insurance - came in at $60K vs $20K because of interest rate environment & bond market volatility within the last month On our first acquisition we also had some surprises at closing - Insurance came in 3X the budget - for both our underwriting and the lender's (this is more of an issue specific to Texas)Lender required $100K more of CapEx expenses the week of closingAdditional unexpected insurance challenge - the corner of one of the buildings was incorrectly designated as being in a flood plain. 

If you can manage real estate you can manage a stock/bond portfolio. 

He predicted much of what happened this year regarding bonds, gold, oil prices.