Condos can be tough to cash flow due to high HOA fees...and special assessments. 

If the comps truly support $280–$290K, the appraisal might not hinder your final sale price, but it’s critical to prepare for hiccups.

Pay special attention to #4 and #5.An LLC is useful for two things: anonymity and legal protection.

Or, are the failed projects going to kingmade investors that have "special" relationships with the lending banks? 

Jay, when we were looking at it a few years ago in a secondary market (this is where we specialize), the EV penetration was not that high.

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.

Sponsor has executed this strategy multiple times, management company specialize in this kind of asset-Does the Asset support the business plan?

Some attorneys now specialize in these.

If you want your hand held, a PM that specializes in MTRs may be worth the money for your first year.

Other methods:Real estate agent: Ask a local real estate agent for help Title company: Contact a title company for a more comprehensive property search Online property search platforms: Use specialized websites that offer property owner lookups.