We have years of new construction experience, most projects being our owner’s own investments.

If you are serious about either retail and/or industrial, I would be sitting down with brokers, looking up owners, making friends with people that work in the space and trying to pull out their war stories.  

I think there may be some condo rules/by-laws that prohibit this (that when a unit is purchased it needs to be owner occupied first and a for a certain amount of time before renting).

The houses are on pretty rough cosmetic condition but the tenants have not shown an interest in any kind of renovations.

What I like about what he’s offering is that he says he teaches people to purchase houses, as well as other types of properties, without using any of your own money, loans, or credit.  

The same is true for owner-financed deals on a shorter term note, in the 3-5 year range.

You might benefit from house hacking vs. doing full STR while you are away.

The buyers want "An ALTA Owner's policy of title insurance without standard exceptions" checked on the contract instead of "An ALTA homeowner's policy of title insurance."  

In order to align your goal with theirs you SHOULD pay them a percentage of all revenue - rent, late fees, water charges, parking fees, pet fees, etc.Second, the PM isn't taking anything, they are earning it by doing the things that the owner cannot or does not want to do.Third, I don't know of many PM's out there that actually want higher expenses for the owner.

. - keeps garbage out of house and I could put a ping pong table for guests The cons would be: - higher cost to build - less cash flowLooking forward to any advice!