Most of the deals I do are off-market and they are sourced from cold calling.

That is the biggest challenge I have with my clients.

After 20 years I have seen the biggest and baddest investors come crashing down running away with their tails between their legs.  

The process must be understood and applied to team building, investing your and 3rd party capital, and financial deal structure with debt and equity sources. 

Used what I know from wholesaling to come up with the estimations The numbers is used are based on a these assumptions:- Cost to build* (2024) = 150/sqft National average, 141/sqft Tennessee Average (Source: Houzeo  https://www.houzeo.com/blog/how-much-does-it-cost-to-build-a-house-tennessee/#:~:text=The%20average%20cost%20per%20square,idea%20of%20the%20construction%20costs.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

A local source is better than a website.

Once it’s set up, though, payments tend to come like clockwork, which is one of the biggest perks.That said, it's important to remember that rent isn’t necessarily guaranteed forever like a lot of folks assume.

These are the scenarios I'm looking at.Let's say the three parties (Me and my wife, friend, and sister-in-law) invest three ways, say 2:1:1, with the friend being the biggest investor.

@Amol KulkarniRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes.