I have 18 years of elder care behind me so know very well what that entails.

Upon approval of your permit to be reviewed by the board,  during your waiting period you'll receive a placard to attach to the property which pretty much outlines the specifics of what the work would entail (ex. conversion of a commercial to residential) with the date of the hearing. 

I would need a trusted RE agent, to learn how to properly evaluate a potential property, how to quickly analyze repair costs, find a reliable handyman/contractor, analyze if I need to use a PM or to self manage and all that is entailed with that, learn to fully maximize rent, and the list goes on.This just seems like a steep price of time and effort to get into a market that can be volatile at times.

As a rehab manager myself I will say that your contractor is smart, he is trying to gently assert that its "HIS" project once you signed the agreement. 

@Lucia Rushton What exactly would a sales job with a hotel chain entail?

If you want to be in that business and understand what it entails, great.

At trial, an out-of-court statement being offered for the truth of the matter asserted is hearsay, and is generally inadmissible evidence. 

When these variances get approved they do not change the zoning of the property but the approved variance document is your legal document asserting the property is being used legally.

Typically it is only Management Fee and perhaps a 'setup' Admin fee when you first first.Tenant 2.6%:  What does this entail? 

The value received by the optionee is that the optionor's hands are bound -- the property may not be sold to another party during the option period.I'd be more concerned that the IRS would assert dealer status if most of your tenants do end up purchasing your properties after 1-3 years.Again, your CPA is in the best position to advise you on these matters.