I see a conflict of interest in your role as fund manager and principal in the “operating” company.

Those are not the most important parts of the operating agreement.

Helped my clients partner up and close on the property, then signed a net lease with a SL operator.

I have a small wholesaling business that operates in King, Pierce, and Thurston counties.

You need to know what to look for, what to address, and have solid buisiness acumen to run a MF operation of that magnitude.

By being physically present, you can gain valuable insights into the property's operations, interact with residents, and assess the team's performance.

With less experienced or just poor planning operators, it isn't uncommon that they spend years distributing all the cash out to the owners, and then the time comes for a multi million dollar refresh to maintain the hotel brand, and no one wants to cough up the money back into the entity.

It's not easy, but all successful agents operate like a business with daily tasks to attract leads and follow through on those leads.

Boiler room  operation ? 

But my question is that if we consider other operating costs like maintenance, capital expenditure, vacancy, etc then this property won't cash flow, so is this a good deal?