I never realized how real estate requires a man to be so educated in his craft and become more sophisticated over what he was .

This whole deal revolves around the level of sophistication of the Seller.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

He didn't want to do payroll. 

The more money that someone has to invest, the more sophisticated they tend to be, and the more they resist a 50/50 split when one person is supplying all the money and thereby taking all the risk.)The advantage of a syndication is that you can structure it so that you have complete control over everything and he just collects checks and cannot make you do anything.  

If you are moving load-bearing walls and adding beams you might need an architect and engineer, while if it is as simple as some updated finishes and casework you could get away with less sophisticated designers.

Depending on the level of sophistication of the seller and the marker you're in, locking the property under contract could risk your earnest money. 

This Reverse 1031 Exchange takes much of the risk out of structuring a 1031 Exchange transaction, but is more complicated and expensive to implement.Generally, the larger the transaction the more sophisticated the investors become who also have knowledgeable advisors assisting them through the process.

Through our 54 shows so far, we've covered everything from topics for the newest investor to advanced topics suitable for the most sophisticated investor.

The best clients are usually more sophisticated in their understanding of building science and engineering and understand the value of what I do and don't shop me or try to beat me up for a couple hundred bucks.