Now he has sold the company and is more of a flat rate charge based loosely on how long it takes him to prepare the return.

In my opinion, even if you partner with a local PM company or turnkey operator your returns will drop significantly.

Third party servicing company for $35/mo handle taxes, insurance, escrow, tax forms, statements etc.

In my case, I have residential rentals in one LLC, commercial properties in another, self-storage in a third, and my real estate company operates in a fourth.

Working in a busy property management company, I'm often asked for advice on camera and alarm systems, and in rougher neighborhoods sometimes it can be a toss-up on whether to keep a property boarded-up between showings. 

That will only leave healthcare to be something I will not have direct ownership or control over as I cannot feasibly own a hospital, nor an insurance company.

The other tenants would call the management company on Saturday to report the air conditioning failure and were told that a service person would fix the problem on Monday. 

Quote from @Mel Rosario: HiDoes anyone know which companies that are willing to insure multiplexes in California, particularly coastal Oceanside, CA? 

However, that was a fluke.Warranty companies are in the business of making money.

Question is, is the person you are dealing with a correspondent broker who brings them deals to fund or someone from their company.