I'm not as concerned about my lungs, as our suites are separeated by a floor, but I'm more concerned about my nerves...it's like having to smell someone's body odor.

However, my concern is I really have no interest in the building other than the tenant.

Which means you're not required to carry insurance for the person, BUT if the person gets hurt on one of your jobs, you may be liable.The solution here is -- if you have any concerns whatsoever -- to find an insured handyman to do your repairs.

I'd be concerned that a tenant would make an argument that ~$200 for a one week late payment is not a reasonable estimate of your uncertain damages. the best idea I've heard of is to offer an early payment rent CREDIT.

I'm most concerned about the upside down status of the property.

Like most beginners I'm pursuing wholesaling.

Hard Money Lending and Apartment Ownership can both certainly do it.My concern is the combination that you are relatively new in REI, you are seeking high (and thus higher than average risk) returns and most dangerously, you seem to want it to be "automatic".

A follow up question:1) Does the HUD condo ratio rule concern the townhouse community (I assume it does not, but want to make sure)

If they are asking about upgrades or expressing concerns during the showing, I am very cautious.

I don't think there is any concern whatsoever about the bank honoring the check against the desire of the payor.