I think the largest hurdle to jump is understanding the margins and what a good deal actually looks like.If you can turn up good solid deals the rest will fall into place.

Just to clarify, because it is a fix & clean, it is unreasonable to have a property manager/ Architect because your contractor will write up a small rehab proposal and send you the after-math pictures.

Using these you set what is often called the hurdle rate for a given project or investment ... which is the minimum rate of return needed before you consider moving forward.  

(a) A tenant shall not unreasonably withhold consent to the landlord to enter into the dwelling unit in order to inspect the premises, make necessary or agreed repairs, decorations, alterations, or improvements, supply necessary or agreed services, or exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workmen, or contractors.

But, the more hurdles to baseless lawsuits the better. 

You're looking to ensure they do not have an unreasonable amount of negative activity therein, like lawsuits and judgements recorded against them. 

I understand my lawyer is fighting for my absolute best interest, but at the same time I'm not sure if I'm being unreasonable as I am inexperienced.

The hurdle I’m having with the recession will occupancy issues increase in a recession?

So if you think that rates will increase (not an unreasonable posit) your locked rate will take you though the next 2-3 cycles.

I can promise you that they are not allowed to keep it for any unreasonable period of time.