What is the criteria, or where can I find that? It's covered in chapter 16 of that book I linked. But if your friend is intending to lose money on the property, why keep it? VRs can be very lucrative. I'm conservatively anticipating a decent return on equity and cash flow positive from year one, ignoring appreciation. Then again, I'm managing it myself, so I don't start with a 30% or so hit off of gross income right from the start.If he has a manager, it will be tough to qualify for this as anything other than a passive investment, particularly if he has another job.IP
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