It’s called using the right tool for the job, and I take complete responsibility for using the wrong tools (double entendre meant) to perform the job at hand.By the way, I don't care what excuse there is for the details being different than the main drawing because if my carpenter, plumber, electrician, or whoever skimped on the details or just got the details incorrect they wouldn't be working for me for long either.

Don't skimp on the preparation of these, they are are what you'll be depending on later.

There are ETFs that invest solely in dividend stocks as well, so your friend can get diversification without having to individually curate the entire portfolio.As for REI, the simplest passive option is turnkey (I may be biased, but it's still true), because once your friend determines the company they want to invest with (which should require a lot of research and effort, don't skimp on research) they shouldn't have to do anything but collect their net rents every month.

I wouldn't skimp on the flooring.

You know everyone will sleep and shower at least once during their stay so don't skimp out with a cheap mattress and low quality sheets.

On such a big purchase and your first investment, I don't see the point in skimping on representation.

That has been a concern, but I think over all, I would rather make a nicer place to live, then skimp and have it look bad.

Rates and insurance type will depend on characteristics of the house and whether you are occupying it or not.Best advice I can give is don't skimp on the liability insurance. 

So we are moderate sized, moderate priced, but we don't skimp on amenities.

Do your research and hire the best company out there, don't skimp, it will only bite you in the *** (see what I did there).