Even though these will clearly be accredited investors that dos not mean there are no hoops to jump through or regulations to follow.

Submit a lease, or they'll supply a lease, and give them a W9 for yourself or your company.

I've been administering 1031 Exchanges for 30 years, and I can tell you that an individual can't just read the code, regulations and 100's of rulings and become an expert overnight. 

. - when doing your finances plan for housekeeping, rental management fees, upkeep, supplies and off (and on!)

Do not be misguiding by other investors that say "why pay a commission"Your paying for an expert no matter how much you think you know we're apart of a regulated industry and a lot of information is available to us not you.

The potentially limitless supply of capital from the capital markets12.

Just ask why she did not use the comps you supplied and why she thinks hers are better.  

Some states regulate this.  

There is a good supply of both town homes and condos, so look around and be selective. 

With Dodd Frank there has been a lot of regulation added onto to working notes etc. which in my mind makes them less desirable to invest in.Also unless you are in their paid program then they will help with forms and the process.