It may be a criminal offense for a director of the HOA to provide debt status information that’s not public record to a third party, or it may open up a civil liability issue, or it may violate terms of the HOAs errors and omissions policy.

I'll be honest: I didn't even read past your third sentence.

I guess including the check with the letter is an interesting high pressure strategy (since it disincentivizes them to wait the 15 days required) and it does save a second Certified Mail fee (and god forbid a third if they don't pick that letter up either), but I'm not sure it's within the bounds of the Florida statutes.

@Peter Demopoulos you will need to bring significant capital into the deal or find a deal to bring to a sponsor.Most larger operators use third party managers or already have management in house if they have been in the business for a while.As @Ellie Perlman pointed out networking and attend events and conferences is a great way to meet sponsors that may need some help on the management side.

One unit covers your expenses, one unit covers your mortgage, and the third unit is profit.

A normal investment property doesn’t have major expenditures beyond the purchase, whereas a ground up development project has all the necessary expenditures to complete the units and lease them up.The construction cash flow is nothing more than a spread of each construction cost line item over the specific time period of your construction schedule.Generally, the time period of construction is derived during your initial due diligence and provided to you by your in-house construction team, or a third party general contractor.

No dinners out for any celebrations, no quick weekend beach jaunts.

You then assign the deal to a third party, the tenant/buyer. 

I can pick up the phone and call three or four "uncles" who are really second and third cousins and tap years of experience in mom and pop landlording.But there's a great deal I didn't know, and Bigger Pockets has very much filled in some serious gaps in my knowledge.

My units are mostly 2 bedrooms so I never allow more than three on second or third floor.