Compare apples to apples. 

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I’m curious—how have you found the costs associated with this type of funding compared to traditional hard money loans?

All of these things would have to be taken into account when considering if a sold comp is a comparable property

This seems like a comparatively low-risk opportunity, and you can prove to yourself that you can do it!

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Compared to wooden retaining wall store or concrete retaining wall more durable and long lasting?

In your example of being called into the office you were obviously working as an employee of an investor or PM however this example doesn't work well when compared to the function of an independent management "company".

If the lien holder decides not to match the bid, they will get their initial investment back along with the interest that was applicable at the time the lien was purchased.This change is certainly less advantageous for investors compared to the previous system.

Run the numbers to see how they compare to you renting.You make money when you buy a rental-getting a good deal and buying the right property.