I am very impressed with the development of the villages and this is largely in part for why we are investing in the surrounding areas!

They charge and collect the late fees you might let slide.

In none of these scenarios are you selling a property that you do not own, you are either selling a property you own (double close), or assigning a contract to collect a fee.

And you avoid things like damaged properties (guest insurance from airbnb or prop manager themselves cover that), evictions, collections, etc.   

That's not to say all of them, there are definitely a lot of professional and successful residential GCs (take a look at some of the guys commenting above, their track records are impressive).

That was my impression as well from him and my research results. 

I just want to sit back and collect cash flow checks. 

What if they have collections or judgments?

Did you collect and keep an earnest money deposit from that buyer?

When he sold it was basically a wash, less the cash-flow collected.