I couldn't paint over it because the previous owner slab so much white paint on it, it looked like melted ice cream.

easy that's only 10% return... many folks want to hit private money as they think its cheap money which it is in some cases.. but 10% would give you the cream of the crop.. just need to lend in states that do not require NMLS license.. 17 do  the rest do not.and NO owner occ at all or for Owner purposes

There are a lot of other investment options out there that can earn reasonable return rates that will also not have you worrying about whether or not the PM was skimming the cream. 

No more skimming the cream, we are having to WORK for our supper.

We would love to do white/cream cabinets because the kitchens are only 10x13 (roughly), and white would make it feel so much bigger, but is that a bad idea as both sides will be rentals eventually? 

Overall, it's a pretty good area for real estate with West Chester being the cream of the crop rental market in Chester County.

Still, it sounds much the same as stocks and shares ie. the shareholders only get paid from left-over funds AFTER the companies have taken the cream of any profit. 

CREAM (Cash Rules Everything Around Me)

ice cream, and then you see him sneaking a 2nd Fatboy out of the freezer.

Don't take their word for it, they don't get creamed, ask a finance attorney if you can be a straw man acting as a principal using other people's money.......you'll get a different answer.