Are you in a point in your life where you are ready to take on risks or looking for some steady investment income?

That can be life changing.   

For example, a buyer putting 20% down on a $500k home would pay around $500k in interest over the life of a typical mortgage at the current ~6.5% rate.

I was basically scared for life and thats why I would PERSONALLY never take on a GP role.

There are no guarantees in life.

Well... he BOUGHT $1B in assets... that are now worth closer to $600M, destroying the life savings of many of his investors in the process.

I would bring your personal life into the discussion.  

Why don't they provide police protection and enforce basic laws instead of price gouge landlords providing basic human services?

Some contractors have insurance, some are 1 man band with no overhead, quality of work factors into cost, level of finishes.We created a calculator for our clients to use here in Chicago, specific to our renovation pricing, but even that is just a guess based on some assumptions.If you can find a quality general contractor, pay them like @Bruce Woodruff mentioned, and it will make your life so much easier...you may eat into some of your profits, but being able to rinse and repeat with someone you trust is priceless!

But you need to show sophistication in business and in investments.They don't want syndicators taking grandma's money she got from her husbands life insurance and it's all the money she has, and she never worked outside the home.