My PM, Kristy Trentman with Daisy Lane Property Management was there.

The second is an 8 unit and cash flow and management were too poor starting out to finance it.

But also Risk management.  

And to manage 10 homes with a 9-5 is a PITA even with a management company.

I would send your client to a really great architect like Jones Pierce who has the expertise to get their dreams onto paper and properly manage the homebuilder. 

I also manage for some folks who buy $100k and rent for $1400 so there are a few ways to make the numbers work.This is a snapshot of Zillow...in the nicer areas you can buy most anywhere since you are sniping the rental-grade properties amongst the owner-occupied prices.

I could also increase the NOI by taking over management myself.Seller is motivated to sell because he's out of the area and trying to consolidate his holdings for easier management.  

We're funding in excess of $35mm a month in short-term, construction loans, so we're doing something right.As for the idea that some construction manager builds your rehab schedule is false.

Correct but this will be a STR in a prime market with pool and by beach so I am sure I can manage to break even

This is wrong question to begin with.The right question: do you know any good fund manager that has proven track record with 15-20IRR in the last ten year ?