May not have as much cash flow but equity would be there.Also you make your money on the overall management of the asset, from the due diligence from the beginning through proper management and exit.I also agree that there are properties that I have had people want to give me and i have said no.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

I am certainly guilty of biting off more than I can chew when it comes to taking on projects that I was not skilled enough to properly move forward, and have used professionals on a few of the projects to get me to the finish line. 

NO kidding way over thought and over kill.. a landlord with proper insurance and takes care of their property ( not a slum lord) has extremely low liability issues.. disputes with tenants is generally over deposits and when you go to evict them..

If trained properly they will free up a lot of time for you, which allows you to do the highest paying activities.3.

I live in North Myrtle Beach, have a large STR rental house in the Cherry Grove section of the beach, and frequent Myrtle Beach proper often for dining and shopping.  

You are being VERY NAIVE if you seriously think someone is going to manage a $10k+ project and spend HOURS chasing contractors, checking on permits, verifying work is done properly before payment and trying to keep everyone on schedule - for no additional charge.Best of luck, just don't blame anyone but yourself when you find out the truth the hard way.

Proper notice is a real sticking point and over the last 10 years case law has rapidly evolved  concerning overturning sales due to notice issues amongst other factors.

That means that if you find a property that already has the proper permit, it could continue to be operated legally, if the permit is renewed. 

So you know exactly how much the legal expenses will be.If doing it yourself, be sure to serve your notices properly or you may find yourself starting over in front of a judge.