If you want to trade your money for time by hiring a PM, I recommend going with a local PM who knows the market well. 

Has anybody been successful partnering with a GC to sign off on permits and have preferred subs available for trades? 

The trade part, is exactly that, information you should know about the trade. 

Hopefully a long time California investor will stop by here to encourage you, but in case they don't please consider attending the OC Apartment Association Trade Show March 28 9am - 3pm @ .

On that playing field, everyone's costs go up just to stay in the game, only to end up in exactly the same place competitively.Better to spend the money on acquiring (or trading up to) properties with really defensible differentiators like a great view, great location, or lots of bedrooms.  

Each approach has risks and trade offs.

@Jay Hinrichs has mentioned multiple times about trading lumber options in the past.henry ? 

FTC, California DFPI Case Leads to Ban Against Operators of Mortgage Relief Scam Home Matters USA | Federal Trade CommissionOffering to buy their homes and "Save their credit" or "Save them from foreclosure" could innocently put you in the state or federal regulator's crosshairs.

I traded a positive cashflowing property to a negative for higher appreciation near the beach.  

Our company is looking to venture into new construction.Do most small homebuilders (<25 homes per year) have any full-time crew or do they hire all independent contractors for each trade?