This is referred to as a sunk cost.Your revenue and expenses are going to be what they are, your question really translates to whether you think a 7% pretax fixed and *guaranteed* return is good relative to your opportunity set.

Reading through some other forum posts, it looks like there are much simpler partnerships, entities, or offerings that would meet what I am trying to do:My Role:-Decide on properties to purchase, mostly SFHs-Establish LLCs or other business structures to hold the real estate and distribute returns-Purchase properties, using loans as needed depending on the ROI/cash flow desired from investors-Act as property manager for the properties-Depreciate properties held in business entities to minimize taxable income to investors-Distribute returns to investors-Create investments that have high cash flow (CF) and low appreciation (App) , moderate CF and App, low CF and high App-Find investors from connections, friends, and family with no public advertising-Advise in a minimal capacity on tax and real estate strategies-Send investment reports to investors-Be fiduciary to all investors-Receive compensation from PM and other management work I do related to the investmentsInvestors:-Can be non-accredited -Invest as little as $1000-Can use retirement accountsWhat references can people recommend for me to learn about business structures, partnerships, securities, taxes, or other topics to get me started on learning what will work for my goals?

If management skills were equal, you would build value much quicker in a class C and D area because you are able to force appreciate more units for trade into more or better quality quicker.For reference, without going into exact door count, I traded a few A and B assets for C and D assets to expand door count.

If you need an accountant I can refer you one!

@Adam GottRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

His book provides the knowledge you've likely already obtained, but also includes a state by state break down of if they are Lien/Deed/Hybrid states, applicable interest rates, bid method, information on redemption periods and references the states' statutes so you have a reference to keep yourself out of hot water. 

Always screen or vex your tenants, check their references and make sure they have a good job.

We have REISift as a CRM and use what's referred to as "Siftline boards" to create flows for different teams members (i.e. lead management, acquisitions, transaction coordination, etc.) and automated tasks are set up depending on where the property falls on the Siftline board. 

@Calum ShallenbergerRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Unfamiliar with what you're referring to.