For instance, depending on your location insurance costs could be much much higher than indicated in the book, construction costs are a lot higher, etc. 

I’m now venturing into new opportunities to expand my expertise and grow my portfolio.I joined BiggerPockets to connect with like-minded individuals, share insights, and learn from the incredible wealth of knowledge this community offers.

Pros/Cons, contacts even maybe, for instance how do you even acquire a loan like this, or is it the same as hard money dealings.

Hi there! I’m starting to dabble in real estate investing and a local agent told me this is a great spot to network and learn. Stoked to explore more. 

For instance, said property manager manages maintenance issues, problems that arise during bookings, basically anything that needs a physical person at the property, while I manage the rest?

@Phil SheltonYou would need a civil engineer to provide a drawing to get submitted to zoning and get a permit if it passes zoning is most common This also depends on the road - if it’s a state road forget it as it will take a year to get approved and cost a fortune - if it’s a local road process not as cumbersome but don’t expect this to happen quicklyIn some instances you may have to prepare sight distances etc to make sure it’s safe to add a curb cut

For instance, things like death, divorce, job loss, natural disasters, heath issues, etc may cause you to change your plans unexpectedly and may change what you do with your home as a result.

For instance, if I buy a house 20% down, 5% closing prep costs where the rent matches the mortgage, interest and tax and assume a 5% rent growth and appreciation, I'm expecting an 11% total return which is just not good enough for the hassle involved. 

For instance, a friend of mine transitioned into the BTR market in Austin, Texas, after noticing consistent rental growth.

In most instances when one person is putting up all capital, best to enter into a 3rd party GC relationships rather than become partners.