Consulting professionals for advice on feasibility and cost-effectiveness can provide valuable insights.

Of course, people love to save the 8-10% management fee when everything goes right, but when things go wrong, having an effective property manager can save the owner a lot of money and headaches.

But they also take a "buyer/renter beware" stance and their view, based on my interactions with building department and section 8 inspectors is: as long as the house does not have cracking or chipped paint, the chances of it effecting people is basically non-existent.  

And even then...many state / local jurisdictions require effectively no specialty knowledge.  

Sounds interesting! 

Not historically, no.As you said this is a new flip, if it goes back on the market after July, you need to be aware of the new CA AB968 going into effect at the point of sale.

The Acquisition Fee is 2.5%, not on the equity raised, but on the $100M purchase price.. abracadabra the sponsor controls a $100M property with effectively no money in.

The point is to make sure to ask that question and understand how it would effect you going forward. 

You need to know what a decent conversation sounds like, what a typical caller should be able to do every day, week and month.

Even a small reduction in income can have large effects on the values of these properties.