But what this means is that these investors are guaranteed the preferred return before the GP sees anything.General partners offer this as a chance to be competitive, defensive, but it also signals an expected floor on their performance.

Then, you would sign all loan documents at closing and your parents would wire the funds to title. 

We are currently using SimpliSafe but it appears that while the sensors work without a WiFi signal we must have WiFi in order to view the live feeds from the cameras.

I sign all my leases electronically and my tenants put work orders in through the site or by using the app.

Obviously, your commute will be longer, but you might find properties that are better suited for your traditional purchase-hold-rent model as you described ("1% rule") with the myriad of demand signals (hospitals, Navy bases, Navy FCU) creating a strong rental market.

do you always say "I'm so busy" maybe giving off an I have no time signal..I find it nervy that they seek advice after they retained another RE agent. 

But I also know that California is often an early warning signal for the rest of the country.

or What qualities you saw signaled that they would be good?

It works wirelessly off of my wifi signal and an internal rechargeable battery.  

It depends on many factors.I also see you spelled the word "invest" wrong, which doesn't signal a serious attention to detail, which I have found is one of the few things that can keep an investor from getting his clock cleaned, as it were, in this field.