Cash for keys is a terrible practice.

I understand the unique accounting needs of real estate businesses and can help you track all your financials effectively.I am familiar with the best practices for classifying flips in QBO, whether they should be treated as short-term or long-term investments.

Your advice sounds practical, but it's really not. 

I also have a FB group exclusively for PMLs and small PML business owners to connect, share best practices, learn from each other.

It's always best practice to keep investors informed of all relevant information related to their investment (good or bad), both before they invest and during the period of ownership of the investment.

Do any of you have a standardized process, workflow, or checklist that you use to run these deals?  

While you don't need a license in MD, you do need a PM, brokers or associate brokers license in DC to manage property....and depending on where in MD the properties are, you might by nessecity need to include DC as a practical matter.

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

There are raw landing investing courses and groups available filled with practical information from people who are making miloneyninvesting in raw land.

Offering to cover closing costs or agreeing to post-inspection repairs are becoming standard practices.