Once delivery and acceptance occur and the document is recorded, it's just a record keeping item in your safe or file cabinet (or wherever important papers are kept).If you're trying to engineer a deal whereby you profit from a difference in price between your seller and ultimate buyer then you need to make certain it has the components of marketable title. 

I'd like to hear from other investors on what their long term plans are and also those in retirement how have you changed your business model pre & post retirement?

I might have misunderstood the underlying assumptions of the model, but a net cash flow of $1875 on a single-family home seems very high. 

We have a lot of success with how we do our biz model but again not sure if there is some standard protocol. 

This is a 90s model home but will need a bit of everything.

If the investment has professional administration, you will have access to the answers to those questions, but also much deeper vetting of the sponsor that will include personal background checks covering things like bankruptcy, judgements, litigation, criminal history, and other red flags related to a sponsor that you would want to avoid, plus other items that investors rarely consider like ensuring that the properties are actually titled correctly, property taxes are paid, and insurance is current.

Many people do this, for example, buy helping aunts/uncles/family friends with retirement accounts from previous jobs set up a self-directed IRA which can then loan on the project (though see handsoffmyira.com for an important and immanent legislative threat to this funding model).I honestly feel like a lot of it does come down to the purchase price though.

IRR is looking at all those cash flows paid back to you (these could include distributions from operations, refis modeled, and sale proceeds), and calculates the discount rate to bring the net investment to zero.  

I don't do airbnb, but from what i have heard, short term tenants will tend to be either easy on your place or really hard on it, your neighbors probably won't be happy about it, your whole model could be shut down at any moment because of the HOA, so there's plenty of expenses involved in remedying any of those issues3. you should consider reading the AirBNB terms of service, as I believe it specifies the insurance requirements, along with consulting your mortgage holder4. 

It would behoove a buyer to visit the place to put a local team together who can run the day to day for them.Questions to ask your agent: What deferred maintenance is known and what were some recent capex items done on the property?