We believe it's fair as we are getting a experienced home builder who has all the same subs for last 15 years and he is getting to build more homes every year and gets to showcase designs that today's customers will want and appreciate!!           

Your best move might be focusing on things like:  education, networking,  and helping an experienced investor/mentor. 

C/D rentals can work for some people, but its almost always experienced investors who live in the area and can save money by self-managing their rentals. 

@David Espana I've experienced both the "I'm applying with my ESA animal" and "I'm getting an ESA animal after I moved in" over the years. 

I am assuming because I have no construction or engineering background yet, or maybe I am taking the wrong approach.

I call on experienced NYC investor @Llewelyn A. to give this any validity with local laws.Take over the house subject-to his first mortgage.

Not a huge deal, however, if there was any sign of it I would have to pay an engineer to come out to recommend repairs....(...$$).

So on the podcast they suggest taking a experienced investor to lunch and picking their brain a bit.

Unless you are experienced and have safeguards in place you will need a property manager. 

Lots of experience with it, long time engineer, I have in the past made my own drawings/permits and gotten them approved by reading through city regs/docs.