When you sell, there are going to be realtor fees, property taxes, lots of costs.

I always just explain nicely that it’s my company policy to deliver the required notice and collect the late fee as per the lease every time rent is late, no matter what, sorry no exceptions for anyone as I treat everyone equally and adhere to the lease agreement that we both signed.

And that's if CA want's to flip the $300m/ $400m in legal fee's to keep fighting for it, for decades.    

This will give you a clearer picture of STR potential.Sounds like Johnson City is a hidden gem worth exploring!

If USPS is slow, tenant is subject to late fees and even eviction.

that is more a RV park. the MBH parks down here. we typically own the land, lot, and trailers. there is a reason but long story short, if i just own the lot and they dont pay the fee. i do not have the biggest teeth to push the need for my money. but if i own it all, my experience says it is a better path

-OOS investors rely on service providers like agents and PMs and think they're guaranteed an outcome instead of just paying a fee for a service.  

Seems like you're just a marketer working on a contract basis (not that I'm defending the program or even saying it's legitimate).in CA you for sure need one of three things if your going to be doing loans for others.RE Brokers license like myself Its how I ran my HML company for years in Oakland CA. we had a 50 million dollar book.Consumer finance license.Or MLO with NMLS registrationOne of those 3 if your going to make fee's brokering loans..

So for her, the fees of 3% at closing and 1.5% per year is a steal vs paying $400,000.

Normally, as @Jaycee Greene suggests, you make a management fee plus a split of cashflow with investors (oversimplified explanation).