I'm putting upgrades in quotes, because these are mostly things that people expect to be in place when they buy a new home anyhow.

I’ll be out of state, which I know is a big red flag for many.Well below 1% minimum of Rent/Property ValueHoping to self-manage (Yes, another big red flag)Loss of capital gains exclusionMONTHLY SUMMARYRental Income $3,500Less ($3,440) Mortgage (2,900) HOA (390) Rent Ins (150)Less ($1,155) Property TaxTot Exp ($4,595)Rev: ( $1,095) !!

Onsite management rental program already in place.

That sometimes catches people via a news story or law enforcement site.Question: if their felony arrests are disclosed, why are you still looking into them? 

Based on what you've provided here, I'm going to assume the partner is a friend or family member- and not to rub salt in a wound, but most people think that makes a contract LESS necessary, which is the total opposite.

I am surprised that the property manager for the condo did not inform the association or try to contact me.

I bring along a modest amount of real estate experience, having held a number of roles as an investor, developer, broker, and manager, having facilitated the acquisition of over 650+ properties 🏘. 

In fact, the last job I had was very slow at times so that gave me time to work on the RE analysis and managing the properties I already had.

This is what I tell people all the time! 

Do you guys / gals, see a problem with the renovated units not having the ability to intercom / buzz people in through the front door until a new system is put in place (which may not happen for years or ever)?