Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

A minor point, @James Furlo, but participation loans are typically loans shared or sold between banks.

It depends on the terms and conditions of your application (hopefully you presented a formal offer to lease that provided for forfeiture of deposit if the tenant failed to take possession).

INNAGO is a free tool that enables you to market your property, receive monthly payments, handle maintenance work orders, and offers additional features.

Reach out if I can be a resource or offer assistance!

Pay attention to how your funds are handled and what protections, if any, are offered.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I probably have less answers for you, and more questions...We don't really know your experience level, so my first question is, do you realize you typically have to have about 20-25% "skin" in the game for this purchase?  

Pre-Closing The Contract If you are the buyer and your offer was accepted by the seller, you will enter into a contract.

New construction may be an option, many builders are offering rate buy downs and closing cost assistance and then you get quicker appreciation when they continue to build out the community.