The high end rental properties can be a different animal than your run of the mill $2,500 month rental both in terms of upkeep and demand.

Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

One way we fight this is with photo verification pre-lease signing and not approving renters who don't view the place in person, our credit underwriting software also flags apps that have a high likelihood of fraud.

Just wondering how many folks would really use this that are like I said not really educated on how title and escrow works and I find East coast folks to be highly reliant on closing attornies and have very little knowledge of title and escrow functions..

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

People with high risk tolerance will have a far different answer than someone who is risk averse. 

I would also highly recommend you set some parameters when thinking about working with non-accredited investors or if you are one and want to invest on a large deal. 

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

If you have several properties or have high turnover you are better off finding a manager. 

you can use a DSCR loan if your DTI is too high for conventional.