Tim Gordon Land smith of San Fran and Precise Associates are 2 of the companies that have shown interest in my package and also have provided LOI's...

Not owning the property is precisely what interests me about this plan.Since I own nothing, nothing can be taken from my in a judgment.There are sufficient opportunities for this in Washington, and I’ve already done a few.Further, I’m very confident that what I’m proposing is not unlawful, even though it is generally viewed as unlawful by the public.It could be unlawful if I failed to exorcise due diligence or if I break into another’s improved property, but that is not what I’m proposing.Indeed, I will clearly document the open nature of each property.The key is to document that sufficient diligence was used to establish that a reasonable person would believe the owner has abandoned the property.And really, what is the owner going to sue me for?

paying too much for what precisely? 

Also, the Pius contractors that install the counter tops always confirm the sink type visually with me, confirm the sink hole count/placement.  

Applying the 50% rule to this property it looks like we are running negative, however since this is a brand new home, we are managing it and demand for this type of rental is through the roof I think that this rule does not apply, is there a more precise calculator anyone could recommend for estimating costs for newer homes?

Hi @Alexis Smith-Frady, welcome to the medium-long term rental space :) Screening prospective tenants is the most important aspect of a successful placement.

I think you can do a modified approach.. you hire an agent or PM just for placement services .. then you collect the rent and you will need a good reliable handy man that has worked well for me in the past. 

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

PPMs are often 100+ pages of legalese, and private placements are the wild wild west of investing with zero protection. 

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.