You might be able to sell off fractional interests in the property but that is typically done with luxury properties to allow the owners to participate in price appreciation while the asset is held.

I have worked with agents that needed help filling out the description of the property (example of the bad ones)I'm not an agent but I can only imagine low price properties are MORE time consuming than a luxury home.

Once you understand a little more about the legislation and laws in place the tenant laws will not be so scary.For a 10k a month cap rate you are looking at inventory that would either be a luxury single family home or a multifam that would be 4 or more units.

For example, when I first started out, I sat down with a luxury real estate developer and told him I was thinking about buying apartments.

If you have the bandwith, adding bedrooms/bathrooms or a new HVAC can significantly increase ARV.First-timers often over-focus on minor cosmetic changes like new paint, luxury upgrades that aren't necessary for the area, and personal preferences that don't align with market trends.Let me know if you have further questions.Good luck!

Yes that is my concern however isn't owning and having a bike some type of luxury and not something that is an actual need that needs to be accommodated?

Point is, you may be looking for a starter home builder and getting recommendations for luxury level home builders. 

I have one that's FANTASTIC for higher end properties (@Dave Stokley), and now I need one for nice properties that don't fall into the luxury category.

But even though they are paying their way, they still live a very luxurious life compared to what I had.

Timeliness and communication is critical when dealing with luxury markets and acquisitions, super jumbo focused lenders will often have dedicated processors and underwriters familiar with luxury real estate transactions.