We have a fairly stable economy and good job growth here so I don't think we will see the bottom fall out like I expect in many areas.And as Mike stated, I also think pre-construction right now is VERY RISKY.

@Antonio Bodley If you are talking about a sandwich LO, where you are making payments to the seller, and the tenant is making payments to you, then you would need to pay the owner something for option consideration, but that can be as small as $10 or so.It sounds like LO's are fairly new to you, so I would not recommend a SLO for your first time out of the gate.Just focus on a LO Assignment, where you are assigning yoru contract.

I think a good way would be to have an in house makeready crew for minor repairs, painting, lawn maintenance, cleaning and pay them whatever is fair market for your area and you charge more for their services.

(actually, you do the exchange but still give the investors their money back).But fair warning: they're not cheap.

In the investment property we bought a massive modern original piece of art from a local artist for around $200 and it complements the antiques.I like to read interior design magazines then replicate the look for as cheaply as I can while maintaining some quality. 

A rule of investing that I have learned from a well-known investor is "Thou shalt maintain control".Again, I am not saying that these funds and people who invest in them have not made money.

We have 90 days to repair it to maintain coverage.

I still think it's fair game to ask SPECIFICALLY what you violating - there should be an ordnance number or SOMETHING that you can refer to.If someone complains, you apologize for the inconvenience, remove them from the list, and you're done.

Aside from that fair housing laws don't let you impose different limits of occupancy.

There is one possible exception: if the home becomes bank-owned through foreclosure, the bank might consider selling the home as soon as possible to the rent-to-own buyer in order to avoid the hassle of maintaining and marketing the property to a different buyer.