I can't imagine it being more,  Famous last words from a first time flipper.

Yeah, besides having any tenants calling the police for each instance and having him arrested, there's not much you can rely on the HOA for. 

@Chad KastelHey Chad,In this instance, I would err on the side of @Caleb Heimsoth's comment, and add - it is not typical to allocate equity or an LPA in this kind of relationship (0%).

However, this is not always the case as I have seen instances of LLCs acquiring commercial loans on sets of single family rentals between 2-4 units purchased as a package on one contract.My best advice would be to talk to your preferred lender if you have one and see what they can do, or to call around to several banks and see what options are available to you.

For instance, you need to show W2 income on your tax returns for the last two years that is substantial enough to make a $10k+ monthly payment and still keep your DTI at a reasonable level if you want to go traditional financing.

Pay$ XX per month and the county does not initiate a suit for back taxesI can see where in certain instances a delinquent tax lender may be advantageous.

For instance, I know many of my contractor buddies want nothing to do with the demo.

It's not difficult to learn but it's not 100% going to work in every instance as there's not always a temperature differential.

Locally is not an option as I'm in Toronto :) The company is very famous and reputable so I don't think they're being shady.

As you can imagine, most claim reps will claim all of the damage was normal wear and tear.Good tenant screening is probably your best risk mitigation in this instance.