Before pictures, after pictures, summaries of the work that you did, and financials for how it is performing now. 

(Note: I should have done a second lien on the property between Justin, Amber, and I for the $4,000 plus interest that I borrowed...but I didn't because we were what I thought at the time, friends) Now fast-forward to November 2019, the house has been completely rehabbed ( new roof, Windows, siding, flooring, doors, HVAC, Electrical, Plumbing ... basically the whole nine yards at a budget that no other contractor in their right mind would have ever remotely considered)  and my realtor performs a new CMA which brought to light a new comp that  brings up our ARV to a new listing price of $54,900!

Unless you are just looking to park cash into an real asset, something that has more palpable value than paper (money or stock), and better than hiding it under the mattress, but without considering performance as an investment.

Some buyers are getting smarter about looking to see if permits were pulled and closed for work performed, but a lot aren't so it is a gamble at sale.

I would figure all the bookkeeping, phone calls, coordination, etc. wouldn't need to have a license to perform those acts and you could just sign a contract per say with the owner saying I'll provide X services at X fee that I bill you for every month.I even considered going underneath someone else's broker license and just build up from there but the fact that they are going to take a big percentage of my already small percentage off rent just irks me when I'm willing to just build off my systems that I have already built/tested. 

You'll have an asset manager/s with nearly inexhaustible resources to run the business plan and keep an eye on key performance and economic metrics that would indicate the necessity to execute a contingency in the business plan. 

Let's call that my "actual proforma" (which sounds like an oxymoron but it's basically a projection of what my actual building's financial performance will be).Thanks for chiming in.

A hydrostatic plumbing test is recommended to be performed by a licensed plumber post Foundation work.

The cash flow on the 5 would certainly out perform the 4. 5 units also spreads your monthly revenue out over more tenants giving you more cushion from vacancies.I'm curious about the reason someone told you to go with 4 units. 

GCs tend to spend their time providing pricing on jobs they intend to perform the work on.