On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?

On the other hand it backs up inventory, which hurts prices in the short term. 

, 2) it manages the properties directly so there are many hands in the cookie jar, and 3) how/when/impact if "they" decide to liquidate properties and what would be the exact impact to me? 

If you feel confident in the tenants signing those long term leases, this is a slam dunk and you'll have a cash cow on your hands very quickly!

A broker on the other hand IS licensed and has a lot more recourse than a big company.

We literally are wholesalers....our job is not to hold your hand.

One thing he used to do was hand-deliver the application to them so he could see how they kept their house. 

Look how many died in the Great Recession which was nothing as severe.On the other hand, the debt-free ones will be in a much stronger and better position to survive (because they have no debt payments to make).  

Landlord-tenant regulations are a bit complex in California and getting hands on is the best way to learn before expanding into larger investments. 

@Martti Eckert I live in Los Angeles and have done a handful of BRRRRs in Missouri so feel free to reach out with any lending related questions to pulling off BRRRRs in Ohio.