I have already learned some helpful tips that I plan to put to use. 

Any tips on how best to broach this would be greatly appreciated.Thanks!

I'd guess 6-7 (my wife and I combined) hours per week on site maybe another hour or two on the phone per week.My tip is meet the neighbors and give them your number and ask them to call if anything is wrong.

I appreciate any feedback or tips you may have for a young student such as myself.

Scott's book on estimating rehab costs.These are just tips so you can make the best analysis of the deal and a solid presentation to potential partners. 

Any advice and tips will help

@Scott MeyersThanks that tip on calculating business value Scott!

Well looks like you and especially your PM need to brush up on the state laws.I don't know CA law but those that do or looked it up seem to make it clear that there is a legally defined grace period and that falling over the weekend would extend whatever that is as well.BP is wonderful for general advice and to get tips and ideas, that can then be checked to see if they are legal in your state.  

The numbers don't seem as good as a quad...Any advice or tips are appreciated, Thanks!

Two answers, both serious, but only one that SOUNDS serious.First, check and see if you are paying by the "tip" (individual pickup at a flat rate) or by the ton.