They look for factors that statistically impact the losses in the past and project into the future.

And we knew that we could force appreciation by raising rents and get a mortgage on it to get some of our cash back soon than that. 

One bad referral can lead to multiple bad referrals and chances are one of those bad referrals will have a negative impact on your investment somewhere along the line.

Interest rates have a big impact on your final cash flow too.

., can they / are they likely to force through a special assessment that will apply to all owners, through the HOA board that I'm sure they'll control?

Didn’t pay the third month which forced my PM to send notices.

This play can work, but through finesse, not blunt force.

In the event the tenant refuses to vacate, the legal protection that a signed lease gives a landlord does guarantee the tenant will eventually be forced out but not without a painful, lengthy eviction process.I have lived through a tenant not vacating and it is a nightmare but what I learned from that experience is that it is best to avoid the circumstances leading up to a refusal to vacate. 

Make sure the properties do not have health or safety violations, no biting dogs, no trampolines, security issues, force place renter insurance, communicate fast with kindness and no discrimination and you won't need a LLC. 

Once you finish construction, if you've created forced appreciation (which you often do in the case of a 203k), you may be able to fairly quickly refinance to get off the MIP of $497.