We only ask that you are able to commit to the group by meeting weekly and simply have a genuine desire to invest in real estate (from beginner to expert).

The former owner tried to burn it down.The Ugly: The former owner murdered his wife and then committed suicide as the house was on fire.I don't believe in any superstitious nonsense, but I'm sure renters do. 

And if you do not report that amount, you are committing tax fraud.Then you deduct your expenses.

I say if you have the mindset to 100% fully commit to starting a Property Management company - do whatever it takes to delight your clients with great service. 

This is great advice @Chris Mason - so I didn't know the occupancy one year promise, but knew of the occupancy requirements and have zero interest in committing fraud.  

You can get rates around 2.45% currently with no long-term commitment (unlike CDs).

- I hate long term commitments because I buy everywhere.

If I were you I'd 1) find a source of income through a business or a job. 2) sit on my money and pretend it didn't exist while I research various different ways I'd like to invest it. 3) Decide on a course of action and commit 10% and no more to whatever vehicle I decided on. 4) Execute the course of action and analyze the feedback 5) Based on the feedback I'd invest more money or move on to something else. 

The extra rent lost due to prolonged non-payment while waiting for abandonment to run it's course may be more expensive than a flat-fee, no contest eviction.Bottom line is this: failure to follow the correct procedure could, ironically, make you liable to the tenant.That is not harsh: that is just one of the (many) dominoes that fall when someone commits a crime. 

I would simply be careful going condo.. maybe learn a little more about all the different types of investments first before committing to a condo deal (of course I dont see what you see or know the numbers you have)