I’ve built strong relationships with agents, contractors, and other investors in the area, and one of my contacts informed me that the owner was considering selling but hadn’t listed the property yet.

Clearly there's a lot more ROI and work for a BRRRR.After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. 

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Permitting is painfully slow, even with long cultivated relationships with the county.

Additionally in terms of a GP/ LP relationship, would preference of LPs create the same dynamic in choosing one GP/Sponsor investment over another, if all technicals and numbers are the similar between two investment?

Reaching out to multiple brokers in the area and building relationships with them will probably be the most important piece.

It's a business - acquiring/building, managing, and growing a business. 

This can be costly for your property manager, and you may have to pay for their insurance policy, which can add unnecessary expenses to your budget.It strengthens your relationship with your property manager.Adding your property manager as an additional insured is a gesture of good faith that shows you are committed to protecting their interests.

You're smart for recognizing the importance of building relationships...very few wholesalers in my area understand this. 

While adding compliance costs (filings, payroll), this structure is beneficial, especially for larger portfolios.This post does not create a CPA-Client relationship.