Obviously there are some safe guards and due diligence to it - but with that amount of capital it would be easy to get $4k to $5k a month coming in routinely - auto debited to your bank account. 

Contractor is my regular HVAC guy and he knows the routine.

If the condo board makes an assessment like the OP describes against each owner for a routine maintenance item like ocean sea air degradation to exterior, then the owner would be out of pocket and have no choice.

Also, with tenants make sure to get everything in writing (i.e. lease, even routine maintenance items that you fix in their unit).

Every time, no matter how fancy I structured it, JV's, LLC's, corp's, every time it has been a HUGE pain in the azz, with conflicts and bs.

Emailed him that I changed my mind and I will blow it all on a fancy vacation and a big screen TV, to please reconsider my application :) I do not expect a reply.

You want to work with a company that provides excellent guest communication around the clock, pays and schedules service providers, verifies their work to ensure quality, and handles routine maintenance and restocking.

I even went with her to pick up her horses at the fancy place they were at and hauled them home for nothing.

You can achieve this by regularly checking the Search Terms report, routinely searching for your brand on Google, and pulling the actual keywords that are converted in your CRM.

I've known relatively new and extremely fancy houses in Madison County that developed the same foundation problems.