In my opinion, even if you partner with a local PM company or turnkey operator your returns will drop significantly.

A core part of my mission is to remain open, honest, and ethical in all my dealings.

To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

I have some flexibility but rely heavily on my team for admin work and the day-to-day operations of property management.

From using the Airbtics app it seems there are a decent amount of STR's in the Jacksonville urban core, where houses are pretty affordable, and that these have good occupancy rates. 

This is the kind of thing the bank you keep all your operating funds in should be happy to help you with. 

It should be noted that the cases were prosecuted against companies that owned and sold thousands of properties nationwide, not against small time operators, but anyone who attempts to follow the model is better off hiring a well versed in the subject matter attorney and be aware of state specific restrictions (like in NY, Wisconsin and others) on Deed for Contract agreements.  

I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

They perhaps can build cheaper than you can, finance cheaper, operate cheaper and to get it leased up, offer things like 1-2-3 months free rent. 

We work with experienced operators that have great reputations and are doing multiple deals at a time.