Can the syndicator be removed if they are not performing? 

We invest in both performing and non performing loans and when we acquire a performing loan at a discount, we have in house MLO who can try and refinance the borrower, we also will offer a discount to the borrower to refinance the loan.

One block can perform very well, and another block will destroy you.Before you invest, I recommend you locate a quality PM that can help you narrow down markets, determine which rentals perform best, cross-check sales prices and rent rates, and take over management right away.The biggest mistake you could make is to get talked into buying in the wrong neighborhood and then learning that the good managers won't touch it. 

You can package the property into a perform note You’ll be able to raise private and or commercial money through the note 

Check the demand for single-family homes in the area and look at recent sales to see how similar properties are performing.

The software allows me to generate custom reports on my rental income, expenses, and overall performance.

I can only see the benefit of forming a self performing property management company if you believe you can be more effective on cost and service than the local 3rd property operators and even cost can be tricky to calculate because most focus on the management fee that's charged rather than the cost to put out fires when they do arise.

@Jason Kahan To perform a 1031 exchange, the ownership structure is crucial.

If you're a 5% owner for only part of the tax year, then only the services performed during that period count toward qualifying.Also, it's important to note that the Tax Court has held that merely being on calls doesn't meet the 750-hour requirement.

Since you are from WA, I am wondering if you know how that market perform.