Half the team focuses on long term rental management and the other half focuses on short term.

In the long run it would save you $. 

They want to keep the note long term but want to leverage or recapitalize using hypothecation (similar to #3 on Chris's list but with notes rather than homes). 

HELOC= short term useFixed (first or second) = long term use like a down payment.  

As long as you are following the law and the lease, you shouldn't worry about lawsuits.

There are a few that do not have any seasoning requirement on a cash out refinance as long was there was rehab completed on the property.

I'd make sure it would do well with long term in case you get sick of mid term and want to convert it to long term.    

The only way to achieve this is by looking at and doing real deals.

We've sent out a cohost request and most hosts are asking ~22%, which is higher than what ABB suggests - but seems to be in line with what traditional local prop management places charge.My question: Long term obviously it makes sense to learn to do this all myself and be self sufficient.   

I think you're on the right track in terms of it's proximity to other MSA's.