As SFR property management was evolving, an interesting thing occurred, the most capitalized and sophisticated investors (who also had the most volume of properties) asked for lower and lower fees, even as they asked for more oversight and property managers who could act like asset managers with a holistic view.

If you are, together with the fact that you execute trades and maintain accounts for your customers you're a broker.You market to the least sophisticated, smallest investors out there.

Airbnb, VRBO, Booking.com, etc), sophisticated rate management and paying all state and local hotel taxes.

from spending my last 10 weeks in miami looking at 500 land deals and making offers and doing underwriting on deals with construction values higher, the playing field above 10 million is so much easier and better and of more interest and separates all the newbies from sophisticated. at my level there is no reason to do small deals. the only multifamily I do under commercial at this point is a triplex we build over and over for out of state investors in Columbus Ohio which is just a unique little niche. tampa I'm not too familiar with zoning or rezoning but columbus is such an old city it has so many mutilfamily properties and rezoning is very easy to get the entitlements for ground up new construction.

I imagine a situation where you rent an expensive piece of machinery, and then their employee damages it, and now your left trying to collect from their insurance while being on the hook with the rental company.  

It was a waste of money, and I think if you're truly at the level that requires a sophisticated legal structure, you should build a relationship with an independent lawyer and not an agency. 

I think this year we had $486,000 of real estate passed around at the group.One thing to keep in mind, not all real estate investors out there are bigger pockets members and may not have the sophistication that we generally do.

I hope to start him similar to your plan but quickly transition him to sophisticated value adds. 

I'm not saying the next light bulb won't be invented (it took 10,000 tries) but plan on a long slog to make it happen in real estate.We and our Joint Venture partners use a fairly sophisticated spreadsheet with a lot of automatically input variables and at the end of the day, it is still experience and second guessing the market that works best.

You answered your question in the last sentence - disclosures are required on conventional but not for DSCR - these are really aimed at overprotecting the consumer (non sophisticated or non real estate professional) - since DSCR Loans are 100% business purpose and for investors (and typically for experienced investors or non-first time buyers only), there is less need to overly disclose / overly explain everything in a disclosure since its assumed they are experienced and know the basics