Either way, I get that this is a contrary viewpoint, so I didn't come here to debate, only to present the concept and to offer my services if it was appealing to post creator.

I also wouldn't be where I am today in terms of my contacts and relationships with vendors, to be in a position to self-manage confidently out of state.All that being said, if another deal with the same amount of hair on it presented itself to me today, I would pass simply because my risk profile has changed.

Not sure, but the way it was presented it seems like you were putting these two approaches in similar buckets. 

@Nedim Tokman, I have never heard of Dolf De Roos, so take what I say with a heaping amount of salt: on LinkedIn it looks like his experience is with "property prosperity".  

I have a deal that was presented to me that currently has some mobile homes with permits to expand.

With regard to the fees that is much less expensive than a Delaware Statutory Trust where fees can be upwards of 20% which is totally unacceptable unless you have absolutely no other options. 

Quote from @Paul De Luca: @Rance SmithWow, that's nightmare situation you went through...Just curious, did you do a sewer scope inspection prior to closing on the building?

If you pay that before the end of the month, the reported balance is going to be $0 even if you buy $5k worth of Christmas presents next week, because that float won't count until the next statement closes.

Hourly rates can range from $150 to $500 per hour, depending on the lawyer’s experience and the complexity of the documents.In New Jersey/Delaware Valley, the rates can be on the higher end due to the higher cost of legal services in these areas, with some attorneys charging upwards of $300 to $500 per hour.In areas with a lower cost of living, such as rural locations or states with a lower overall legal rate, the costs can be lower.It’s best to shop around and get quotes from a few attorneys familiar with private lending and real estate transactions.

I also tried to listen to today's 9 to 5 live presentation.