What does the inspection process involve?

My take is that a Host should be personally involved as much as possible.

We’ll find a way to get ppl with varying schedules involved.

However, my work involves a lot of late nights and it’s starting to take a toll on me, especially with two young children.  

You don't want to start playing sides here and getting involved in these kinds of debates.

Are they given a JV-co-GP position for fundraising or will they be involved in the management of the property?

In the case of GEG, we let our members know we did not have a track record with them - they were new to us and just being tested - and therefore it was even more important to perform thorough due diligence since we can't be involved in the transaction. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Since your parents seem open to your involvement, I would start start small. 

We are experienced and have never involved anyone in our projects and have never used a loan outside of a conventional mortgage.