For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

The marginal returns drove me to seek other strategies.So, this is not a "bad" deal if you consider it more of a learning experience than one that will make you a lot of money. 

The difference between this attempt and the two previous attempts that failed badly is the large amount of money the aids foundation is spending.  

The units are very utilitarian, in the first listing there are only 2 art pieces in the living room, they are too small for the wall, and they look like they were ordered off of amazon which isn't necessarily bad but it also doesn't stand out.

This ain't bad lookin'!

"Good" areas will be priced high, "Bad" areas will be priced low. 

@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

Before the income subject to UBIT is calculated you can depreciate and deduct expenses and losses on that portion of the income so generally it's not as bad as people think. 

Of course they are going to have bad credit or they would be looking in a better area.Another thing you may want to consider to drive more applications is to not charge the application fee.

Avail costs $9 a month per unit with no start up costs or annual contract which isn't bad.