Who is the asset manager?I

If you trust your contractor and can stay on top of the project, you might not need a property manager my understanding is the property manager is playing the contractor's role for some smaller projects, not another layer on top of the contractor. 

The goal is to get my own GC license but in AZ you need 4 years of experience (hands on or managerial) to even apply.

The property manager is complaining of a very slow rental market in Phoenix.

The many bad advice on this platform are mostly in part attributed to "AI" making everyone look smart but the few true ones like you would greatly benefit from a natural conversational interface tool that refers people to you for your quality advice.I remain a cautious, optimistic skeptic but open to embracing what the future holds.

In this case, since the capital stack includes 70% debt, it's likely that some portion of the income generated by the preferred equity investment could be attributable to UDFI, potentially triggering UBIT.However, the preferred equity in your scenario may be treated differently from common equity, especially since there is no upside participation beyond the fixed return.

“Simplify, simplify”, one of the many quotes attributed to Thoreau, is solid advice for the struggling new investors who I have spoken with.

And a property manager is expensive and profit margins on rentals are fairly small.

I have been using a property management company to manage these properties, but as many would agree, that you always have to still manage your manager. I

I work for CMG and am the All In One Loan product manager. I