The role of the local project manager would be to check out local deals prior to purchase, locate and coordinate subtrades, check up on the contractors, and look in on the property regularly and when needed. 

I ran the numbers and $750k puts me in a negative for a regular rental property at marketing rent $2200 for 2 bedroom 1000sq ft. $2000 for 800 sq ft.

I will call each profession, whom I work with on a regular basis, and give them the tenant's contact information to schedule a time to work on the repair.

Most of the other houses in the neighborhood are regular foundations on the ground.

There are several regular meetings in Detroit and the surrounding suburbs.

@Russon Smith  I called my regular insurance agent (he holds my vehicle and primary home policies) and he was able to get a renovation policy through another carrier to cover me through our rehab.  

You pay regular taxes, including social security, like a job and there are not many tax breaks.2.

Some of the regulars on Bigger Pockets must spend hours a day reading and posting based on the volume they output.

I'm afraid that if I was to get into this deal that I would get denied for the loan on my next property. obviously there are other ways to finance the next deal if need be, but best case scenario I could still use regular financing for the multi-family.

Most carriers will deny a claim on a regular tenant policy if they discover that you're actually running an STR.