With my Controller/CFO background looked at our annual spending. 

A fixed-rate manager might let you retain control over the booking process while saving on commissions.If direct bookings are a primary goal, having someone motivated to push these (beyond the traditional channels) is crucial.

Understanding borrower experienceRewards - being in first position you are in control of property in case of default.

To answer your question, the advantage the GP has is control, and the ability to gain wealth from their equity position (hopefully not so much for asset management fees) by selling at a big gain.  

To start, research local markets, and understand property taxes, rent control, and cash flow.

Learn how to control your personal finances.

You have control over it but it will be a lot more work.

It's a crock.You need to pay off all debt and get your finances under control.

But it wasn't until a pivotal moment that I realized the importance of taking control of my financial future.

In CA currently only MF properties are rent controlled.