What locations, property sizes, and target groups work best?

California has a lot of nuances, but most virtual CPA firms on BP are familiar since such a large portion of clients come from there! 

Do they only get a portion of the equity of the house? 

What size/type of contractor crew should I put in place to get things going (for 1-3 fam heavy cosmetic that does not require structural work, $300-500k ARV)? 

@Michael EdwardsI would ask them for a contract but if this is one of those deals where they pay off the mortgage for equity in the property understand your portion of the equity will be very minor.

It's the small to mid size parks that most people have never heard of but get 500k+ visitors per year that have the best yield.

Medium size 3 bed/2bath that is the most suitable to sell as a single family if the rental doesn't do wall.Any thoughts or advice on the matter would be appreciated!

Many experienced REI wouldn't throw down $5m unless you had a previous relationship with them or track record making money in those sized deals.  

Same size apartments, similar amenities, and similar type of complex if you can find them. 

Would be to sell and perhaps down size.