Should you decide to undertake the role of GC, before your break ground, you need to select all of your subs which will be required to get the building permit. 

The price point will be determined by how much time you spend searching for properties (MLS vs Wholesalers and private sellers) and how much work you want to put in to get it cash flowing (level of rehab and sourcing and selecting tenants).

Spruce up the property and rent it to a tenant you've screened and selected who is willing to pay market rent and treat you with basic human dignity.

I remember selecting the pet option when searching but can't remember after that whether it came up again or not but it must have because here is my ABNB confirmation."

@Mike Calvey - Could we please refer Sam to all of the property managers in Memphis for him to select from and interview? 

I am a new RE investor and I am still in the market selection phase.

I wasnt impressed with 95% of them .

My suggestion would be to select someone with the most forum posts or most reviews.

Though it might “seem” that you can arbitrarily attach the “tax basis as the fair market value” and thus receive $0 gain, the IRS would not respect this if you were selected for audit.

We get obsessed with market selection, but execution on a well thought out strategy is the most important thing, not the location or market that you pick.