If I outsource then what percentage should I ask from the auctioneer?

Ask how many or what percentage of owners are delinquent on there fees.

The builder's estimate of return on money after the two years is thus: when refinanced and rented out (builder estimate) an 80-90% return on investment and you would still hold your percentage of ownership.

Is there a safe percentage?

There is a small percentage who do the job correctly and create value on multiple ends.I think Rick H. said it best, some people trade equity for piece of mind.

Loan to cost means that percentage is only based on how much it actually cost you.So in your situation, they would completely disregard the ARV, they would be loaning on a percentage of the $105k you have into the deal.  

How much mortgage would the owner hold and at what percentage?  

My leases also have language in them about automatic increases at a small percentage (very low) that will automatically take effect if the lease autorenews.

Regardless, here are my questions:1) When evaluating a property generally in CA (even in Sac would be better), what percentage of monthly rent do you have for:a. vacancyb. capital expendituresc. repairsd. managemente. other2) After crunching the mortgage, prop tax, insurance, and these other expenses above, what would be considered a 'good rental property' to invest in, in CA?

My brokerage has the largest market share by far here, so a major percentage have my brokerage on both sides of the deal, but not the same agent.