Also obvious to me is this property will not produce a return that warrants the effort. 

Does the California government believe that wholesaler activity around the fires would only produce a net-negative?

Do not do anything that does not produce income.

Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.Cheryl Cheryl, I'm sorry to hear this.Many investors learn expensive lessons with their early investments.Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion).

Our agents want to work with us because they see the value of being part of a high-producing renovation company.

STRs generally produce more income than LTRs, but they are more work.

Because, the lender is entitled to know what risk they are taking with their money.That being said, on seller financing, if someone gets sued and loses, the lien/judgement can be filed at the county, (it's not automatic, someone has to prepare and send the paperwork) which the bureaus will pick it up on producing a credit report.

Quote from @Greg Scott: LOL  Very creative.It could produce a windfall, or perhaps, massive IRS penalties.  

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

If your deal has some healthy margins, you should be okay, I would just be aware and upfront with whomever you pick.Good luck!