All in it was a good time, but I just couldn't believe what these people were paying for the properties, let alone the issues that you all brought up here, city fees, previous owner notifications, and land locked locations. 

House hacking is a term some people here use to refer to getting a roommate in your own home. 

It taught me a lesson I’ll never forget: in this business, a deal isn’t real until it’s closed.

You may want to consider asset protection for the consulting business and/or real estate by holding in appropriate entities, especially depending on how risky the consulting is and how many assets are attributed to that business. 

As mentioned unless you are extremely experienced those throwing offers out there to see what sticks are typically wasting peoples time.

I would recommend finding someone in your market who is already flipping and being a resource to them in exchange for knowledge.Wholesaling is a completely different business, with 80% of it being marketing and sales.

I found that most people who were successful in real estate didn’t start with everything figured out—they learned a lot along the way.

You have to have a commercial STR insurance policy for a STR, so it wouldn't be hard for a disgruntled neighbor to make the argument that you are a commercial business as a STR.So keep your neighbors happy.

I’ve heard horror stories of people who have to tear apart their house because of work that wasn’t permitted.I’m wanting to buy another home and rent this out as a duplex but I’m worried that if I apply for a rental license or anything that’s dealing with the city, they might find something that’s not permitted and we’ll be stuck with a hefty bill.

Therefore, that fee is there to make sure that they are getting the job done the first time.Anyone who is saying that they can do a great PM job and won't charge you anything besides the monthly fee, is most likely going to fail out of the business because they won't make enough to stay in business, hire and grow.It is very important to understand all the fees associated with a PM, but I encourage you and your friend to not shy away from a company right away if you see they have fees on other things other than a monthly cut.