The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

I would caution on comparing these returns to the S&P 500.Real estate has been pretty much flat the last 2-3 years while the S&P has been on a great run.It's human nature to sell the lows and buy the tops.

A property built on stilts that had virtually no flat scape, but to make it worse the stilts had the property nearly overhanging hwy 163,  You likely can figure out this property. 

You mentioned a creek, so finding a few flat/clear-ish areas with a nice view of the creek could be all you need.  

Even the best managers charge a much lower rate, like a flat fee of $200 or maybe 25% of a month's rent.

Tenant B has the option to enjoy W/D for a set, flat monthly fee.

That does not mean they are selling to you or maybe change their mind altogether. 

An advisor, not affiliated with any investment house, who works on a flat fee basis would be a step in the right direction. 

I want to offer my apology to Bill Gulley because when I initially contacted him, I just flat out told him I was looking for a mentor without even discussing with him why I needed a mentor or what kind of service I could be to him(one of the things that was brought to my attention because of BP).  

This would be a flat fee payment for the use of their license for permitting SFH.