Yes, there are more steps to go through (often including sending in a W-9 tax form), but those steps are usually pretty straightforward.Additionally, most of the folks tasked with finding the housing for the company's VIPs are really appreciative of being treated well by a good property manager, so you can stand above the crowd by simply responding quickly and respectfully.

@Greg Dickerson hit the nail on the head with respect to the fund of funds.To add to this, what I suggest is that you approach this issue from the soft side, which means building and maintaining strong relationships with your investors because, at the end of the day, they are your investors.

B neighborhood of a blue collar market, active resale value because of price range and desirability. 

Respectfully,Zach Rumfield

First off, major respect for transitioning from MLB to RE—it’s a whole new kind of game, right? 

You can also look at creative financing/subto or owner finance as an option and finally there are DSCR options that will allow you to go up to 85% of purchase (but there is a fairly severe interest rate penalty), so I'd recommend staying in the 70-80% range.

Early on I interacted with a vendor that I highly respected, and everyone else did.

I respect it, a lot of people buy in markets they are interested in so they can get some utilization out of the property too.  

For a turnkey property, in an "A" neighborhood, a reasonable cash-on-cash return might range between 5-8%, since these areas tend to be more stable but with lower returns.

I tried this approach by saying, "I respect that the seller wants to move the property because of the estate, but I know my offer is really low—so low that I don't want to disrespect the seller.