As this becomes more and more prevalent in the coming months/year, I think there will be a lot of sponsors that have footnotes on their track record, stating "representative sample" or they will change track record to case studies, and only list their good deals, while sliding some "average" deals that still netted an okay positive return.From the LPs side, of course you should be asking questions about losses, is your track record reflective of EVERY deal you have syndicated or raised money for.  

By state law we had to do a lot of asbestos testing, and I ended up getting asbestos training.I was told that some drywall as late as mid 1980s had asbestos, so we took numerous random samples, but found none. 

Try samples in tiny 4 ounce or peel and stick to get an idea how it looks at night, and during the day.

Exercise great caution when selecting contractors, as there is no Planning and Zoning (P&Z) oversight in this area, which can lead to build issues.

Better maybe, does anyone have a sample agreement between hired Host and Investor?

Search BP for PM's in your area.Ask for:+ sample LMA(lease management agreements)+  fees, pets, tenant placement, +  maintenance agreements, AC filters, inspections, max amount they can spend without your approvalDepending on the location, also consider a STR property manager.

You will have to pay for surveys, plans, possibly a soil sample (elevation certificate if in flood). 3) Build- Once plans are approved and your financing is lined up, you can start to build. 4) Certificate of Occupancy- Complete the build and all inspections and sell.

I will bring 2 sample inspections to review with them and warn that they all sound like the house is about to fall down.

So, I sample jack up the rent drastically.

It would be a healthy exercise .