This allows me to control the end result, while keeping the project moving.

The agreements I've seen basically say you are guaranteed nothing, you could lose all your money, you might not be paid on time or ever, you can't rely on any representation made by the GP, you have no control over the operation and other terms and disclaimers to that effect.

Perhaps hire the PM as a second set of eyes for quality control but that should be in addition to the GC you should hire from day one. 

Financing is key, and many investors use mortgages to leverage their money and control larger properties.

You may lose access to the bookings they have managed, as those reservations are often under Evolve’s control, and they may manage the communication, payments, and cancellations for those guests.Transferring Bookings: Some companies might allow you to transfer the bookings if you switch to managing the property independently or through another service.

The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits.

The deal is more directly impacted by macro-economic factors than anything the sponsor can control.  

This implies residential units can be built at lower costs and provide better return. 11) adding an ADU to SFH can make the SFH fall under rent control.

Transparency always wins.3)Make sure to have mattress and pillow protectors, top-notch cleaners that take pictures of every sheet as they lay it before guests get there, and consistent pest control.

They will have a LOT OF CONTROL and you're not there.