In the case of GEG, we let our members know we did not have a track record with them - they were new to us and just being tested - and therefore it was even more important to perform thorough due diligence since we can't be involved in the transaction. 

Look, I am rather regimented when it comes to hard money; that a HML should ONLY ever be used for short term transactional purposes. 

The metro area’s core six counties straddle the border between the states of Missouri (4 counties) and Kansas (2 counties).

Big military base and probably lots of border trade if that continues.

Plan my next day 6 most important tasks - I've been on top of this, but still a challenge to get them all crossed offPlus, most importantly, we have 4 projects here in Chicago we are working to bedone before the end of the year so we can start some new projects off on the right foot!

@William Causey depends on the transaction and the parties involved.Agree with @Dennis McNeely on some of the transaction costs.A different issue though is with an Assignment, the buyer gets to see what you paid for the property.

Arbitrage is simply transactions.

He would also not need any private money lenders to close these transactions -- his bank would be dying to give him a commercial line of credit. 

@Spencer DixonRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

They can help you cross-check your estimates.It’s always better to overestimate expenses than to underestimate and face a shortfall later.